Noble Group shares fall after poor Q1 earnings

SINGAPORE, May 15 (Reuters) - Shares of Singapore-listed

commodities firm Noble Group fell as much as 3.6 percent on

Wednesday as investors reacted to the firm's

weaker-than-expected quarterly earnings.

Noble, which focuses on bulk commodities such as coal and

soybeans, reported after the market closed on Tuesday a 62

percent drop in first quarter net profit.

Stockbroker Maybank Kim Eng said Noble's earnings "were

significantly below market expectations as problems in its

agricultural segment persist", and cut its recommendation on the

stock to hold from buy with a reduced target price of S$1.17.

Noble shares were traded at S$1.085 around 0110 GMT, down

2.7 percent.

(Reporting by Kevin Lim; Editing by Paul Tait)

Source: http://news.yahoo.com/noble-group-shares-fall-poor-q1-earnings-011502471.html

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