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Shares in commodities trader Noble Group fell as much as 16.2 per cent on Thursday ahead of the company’s afternoon release of its first quarter results.
Singapore-listed stock in the company had pared losses to be down 15.8 per cent at S$1.09 in morning trade, near their lowest level for the year to date.
Noble Group had issued a profit warning on Tuesday predicting a loss of $130m in the first quarter due to a misplaced bet on coal prices. Results for the period are expected out this afternoon after market close in Singapore.