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Sector
Financials
Size
Large Cap
Market Cap £5.75bn
Enterprise Value £5.52bn
Revenue £584.4m
Position in Universe 275th / 6099

BUZZ-Singapore Exchange sees worst day in over two years despite Q3 profit jump

Fri 24th April, 2020 5:47am
** Singapore Exchange Ltd (SGX)  SGXL.SI  slides as much as
8.3% to S$9.32, its biggest intraday tumble since February 2018 
    ** SGX Q3 profit climbs 38% to 13-year high thanks to jump
in equities and derivatives trading volumes 
    ** Following results, Citi downgrades SGX to 'neutral' from
'buy', and cut its PT to S$10 from S$10.8
    ** Citi says SGX fairly valued post rally this year 
    ** Adds that April daily average value of equities
securities trading down 37% from March
    ** "Still prefer SGX over banks but recognize that
moderating turnover suggests a less upbeat earnings trajectory
going forward" - Citi 
    ** Shares had risen ~15% this year, as of Thursday's close,
vs. 21% drop by the main Straits Times index  .STI 


 (Reporting by Nikhil Kurian Nainan)
 ((NikhilKurian.Nainan@thomsonreuters.com; Twitter:
@NikhilKurianN))
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