Daily Markets Briefing: STI up 0.03%

Expect muted gains today.

The Straits Times Index (STI) ended 0.88 or 0.03% higher at 3,170.77.

The top active stocks were DBS, which dipped 0.56%, Singtel, which grew 0.64%, UOB, which went up 0.24%, OCBC Bank, which fell 0.18%, and YZJ Shipbldg, which remained unchanged.

The FTSE Mid Cap grew 0.02% whilst the FTSE Small Cap slipped 0.08%.

According to OCBC Investment Research (OIR), The US stock market was closed for Memorial Day on Monday.

European stock markets traded mostly higher on Monday, driven in part by relief that euro skeptic parties did not advance as expected in EU Parliamentary elections, whilst autos were also gaining after Fiat Chrysler and Renault finally confirmed merger talks.

“With the US market closed overnight, the local bourse could get off to a muted start this morning,” OIR said.