Zooming In On Fed’s Feb 2024 Meeting (Money FM)

Singapore shares rose at the opening bell this morning, following mixed results in global markets.

In early trade, the Straits Times Index (STI) rose 0.6 per cent to 3,197.77 points after 49.5 million securities changed hands in the broader market.

In terms of companies to watch, we have Olam Group. Its indirect 64.57 per cent-owned subsidiary, Olam Agri, has launched a non-binding indicative offer to acquire all shares in Australian cotton ginning company Namoi Cotton for some A$122 million (S$107.8 million).

Elsewhere from the US Federal Reserve sticking to its earlier projection of three rate cuts this year and comments by Fed Chair Jerome Powell on whether a strong labour market could derail its plans to cut rates, more international headlines are in focus.

Also on deck, fashionistas suing luxury brand Hermes for not selling them the iconic Birkin handbag without buying scarves, shoes and belts!