25 Feb '11, 6am

S'pore shares rise on Friday to break 4 straight loss sessions

S'pore shares rise on Friday to break 4 straight loss sessions

Shares of index heavyweight Singapore Telecommunications , Southeast Asia's largest telecom firm, rose as much as 4.2 per cent after Citigroup upgraded its rating to buy from hold, citing falling subscriber acquisition and retention costs for smartphones in Singapore and Australia. -- PHOTO: AFP SINGAPORE - SINGAPORE shares rose 1.1 per cent by midday on Friday, breaking four straight sessions of losses as oil prices eased and gains in Singapore Telecommunications helped to lift the index. Shares of index heavyweight Singapore Telecommunications , Southeast Asia's largest telecom firm, rose as much as 4.2 per cent after Citigroup upgraded its rating to buy from hold, citing falling subscriber acquisition and retention costs for smartphones in Singapore and Australia. At the break, SingTel shares were 3.5 per cent higher at S$3.50 with over 15.4 million shares changing hand...

Full article: http://www.straitstimes.com/BreakingNews/Money/Story/STIS...

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