Daily Markets Briefing: STI up 1.18%

It could attempt to conquer the 3,260 hurdle.

The Straits Times Index (STI) ended 7.02 or 1.18% higher at 3,257.05.

The FTSE ST Mid Cap Index rose 2.02% whilst the FTSE Small Cap Index grew 0.96%.

OCBC Investment Research noted that the S&P 500 posted its best quarter since the end of 2013 as stocks closed mostly unchanged for the session on Friday after economic data painted a mixed picture of the economy.

Six out of eleven sectors in the S&P 500 indices closed lower, led by Financials (-1.06%) and Materials (-0.68%) whilst Utilities (1.51%) and Real Estate (1.31%) led the gains. The index posted 0.43% monthly gains.

"After the 0.6% rebound last Friday, we could see the STI making another attempt to conquer the 3,260 key hurdle today," OIR said.