, Singapore

Noble’s share price to remain volatile as it battles to regain investor confidence

The market is still very cautious.

Noble’s share price will continue to grapple with near-term volatility as the beleaguered commodities trader battles to regain investor confidence.

A report by OCBC noted that although Noble has initiated a lawsuit against Iceberg Research, the market remains very cautious and it will take time for Noble to ease investors’ doubts.

“We think that we are likely to see more near-term volatility in the company’s share price as it will take time for Noble to regain market confidence. Despite insider buying interest over the past few weeks, we also saw Invesco buying and then selling some 15m shares between 16 and 19 Mar for a loss of S$1.1m. On the bonds side, we note that the yields on Noble’s bonds have also risen sharply, suggesting that the market sentiment is still very cautious,” stated OCBC.
 

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