News Headlines

• US stocks climbed higher on rising optimism that Greece will stay in the euro-zone, which outweighed a disappointing reading on US consumer confidence. The S&P 500 Index and the DJIA climbed 1.1% and 1.0% respectively.

• China has ruled out stimulus measures of the scale deployed during the global financial crisis. Premier Wen Jiabao had called for a greater focus on growth last week.

• Metro Holdings posted FY12 PATMI of S$91.9m, up 12%, as revenue grew 7% to S$187m.

• Tung Lok Restaurants reported a FY12 net loss of S$1.8m, versus a net profit of S$4.1m the year before. Revenue declined 8% to S$86.6m.

• Fischer Tech registered a
FY12 net loss of S$4.3m, versus a profit of S$1.1m a year ago. Revenue dropped 9.8% to S$123.7m.

• IT services company Azeus Systems Holdings posted a 205% increase in FY12 PATMI to HK$10.4m as sales climbed 30% to HK$112m.