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Olam Form 50:50 Grain Origination and Merchandising JV in Canada!
By Dou  •  June 13, 2012

On 13/June, Singapore shares ended lower deterred by uncertainties surrounding Europe’s ongoing troubles.

STI ended lower at 2786.88 (0.4%) with LOW VOL of 1.44 billion shares traded compared with 1.40 billion shares Tuesday. In the broader market, gainers outnumbered losers 195 to 141. Today STI ‘s market breadth remains positive despite ended lower. This affirms that traders are merely selling specific stocks.

Headline in STI

Before market close

Olam International Limited announce the intention to form a 50:50 joint venture (“JV”) to originate and merchandise Canadian grains and oilseeds.

Technical Analysis on STI

Immediate Resistance of STI: 2802

Immediate Support of STI: 2767

MY sentiment on STI: For the past 3 trading sessions, prices have been well support at the 2767 and the selling pressure has clearly eased. It would be a good opportunity to buy on the consolidation mode. We would suggest to start buying ...

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By Dou
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