Oil prices soared Friday, achieving their biggest daily percentage gain in two and a half years, yet still wrapped up January with a big loss.
Analysts said factors behind oil’s jump on Friday included news of a huge drop in U.S. rig counts as producers respond to oversupply, as well as short covering on the last day of the month.
Light, sweet crude for March delivery CLH5, +7.37% on the New York Mercantile Exchange, also known as West Texas Intermediate, settled up by $3.71, or 8.3%, at $48.24 a barrel. It was the largest one-day percentage advance since June 2012, coming just one day after the contract traded below the $44-a-barrel level for the first time in nearly six years.
Singapore Exchange (SGX) has developed a disclosure guide for companies in complying with key aspects of governance and for investors in assessing information provided by companies.
Developed in a question-and-answer format, the guide makes clearer to companies specific principles and guidelines identified as express disclosure requirements in the Code of Corporate Governance 2012.
Under SGX’s comply-or-explain approach to the Code, listed companies are expected to comply with the Code or explain in their annual reports any deviation from the Code. Listed companies are encouraged to enclose the new disclosure guide as part of their annual reports.
Investors can use these disclosure guides to review and compare companies’ governance practices, and better assess the companies they invest in. A sample of the disclosure guide is attached.
Recent surveys have indicated that while compliance with the Code among SGX-listed companies is generally good, disclosures relating to remuneration, risk governance, board diversity and sustainability were not comprehensive. Using the disclosure guide as a basis for comparison, investors and interested stakeholders can judge whether a company has provided adequate disclosures and meaningful explanations for any deviations from the Code.
Gold rebounded Friday in response to a report showing weaker-than-expected U.S. economic growth, closing out January 8% higher, its best monthly percentage gain since January 2012.
Gold futures for February delivery GCG5, +2.26% rallied $23.90, or 1.9%, to settle at $1,278.50 an ounce. March silver futures SIH5, +2.87% gained 43 cents, or 2.6%, to $17.21 an ounce.
