Olam sells share to Temasek

The S&P 500 spent nearly the entire session gyrating within a nine point range amid light trading volume, but managed to close at session highs following a late flurry of buying and a spike in trading volume.

In what was May's final trading session, more than 1.8 billion shares traded hands on the NYSE, the most in more than one month.

Olam International said on Monday it has agreed to sell 13.76 percent of its enlarged capital to state investor Temasek Holdings for S$437.5 million ($303.2 million). Olam said the deal, which would make Temasek the second biggest shareholder in the commodity company, is aimed to boost its future growth.