Keppel, Sembcorp rallies won’t last as rig orders dwindle

They’re still at risk of rising debt, spending cuts.

The world’s two biggest builders of oil rigs saw their stocks rise the most in more than two years last month as crude rebounded. Investors looking for more gains shouldn’t get their hopes up just yet, Baring Asset Management and Henderson Global Investors say.

Keppel Corp. surged 13 percent and Sembcorp Marine Ltd. rose 7.8 percent in March, the largest monthly gains since January 2012 and September 2013 respectively. Oil climbed briefly above $40 a barrel last month, a level not seen since December, said Bloomberg.

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