PHL shares inch up on bargain-hunting, lower US jobless claims
May 21, 2021 | 4:54 pm
COURTESY OF PHILIPPINE STOCK EXCHANGE, INC.
Philippine shares closed the week in the green as investors went bargain-hunting amid the local bourse’s intraday low and after the US released data showing lower initial jobless claims.
The benchmark Philippine Stock Exchange index (PSEi) inched up by 1.61 points or 0.02% to close at 6,199.25 on Friday, while the broader all shares index increased by 2.42 points or 0.06% to 3,842.73.
“The local bourse managed to close in the green territory this Friday as bargain hunters took advantage of its intra-day dip,” Philstocks Financial, Inc. Senior Research Analyst Japhet Louis O. Tantiangco said in a Viber message on Friday.
BusinessWorld
May 11, 2021 | 9:00 pm
COURTESY OF PHILIPPINE STOCK EXCHANGE, INC.
PHILIPPINE shares went up on Tuesday on last-minute bargain hunting following the market’s decline as data showed the economy contracted worse than expected in the first quarter.
The Philippine Stock Exchange index (PSEi) went up by 9.42 points or 0.14% to close at 6,326.83 on Tuesday, while the all shares index increased by 1.25 points or 0.03% to finish at 3,907.96.
Philstocks Financial, Inc. Senior Research Analyst Japhet Louis O. Tantiangco said last-minute bargain hunting after the index’s drop during the day caused it to post a gain.
“Investors took opportunity out of the market’s dip within the trading day caused by the dismal Q1 2021 GDP (gross domestic product) figures. The progress in the country’s COVID-19 (coronavirus disease 2019) vaccine procurement helped spur positive sentiment. Trading lacked conviction,” Mr. Tantiangco said in a Viber message.
BusinessWorld
May 7, 2021 | 8:02 pm
Philippine Stock Exchange index
Philippine shares closed the week in the red after data showed that the country’s unemployment rate went down in March and as the country’s pandemic situation continue to cloud investor sentiment.
The Philippine Stock Exchange index (PSEi) went down by 24.07 points or 0.38% to close at 6,258.71 on Friday, while the all shares index decreased by 2.22 points or 0.05% to finish at P3,877.43.
“Philippine shares closed lower as investors focused their attention on the highly anticipated jobs data, while fund managers continued to assess the new set of earnings that came out,” Regina Capital Development Corp. Head of Sales Luis A. Limlingan said in a Viber message.
BusinessWorld
May 3, 2021 | 9:00 pm
COURTESY OF PHILIPPINE STOCK EXCHANGE, INC.
PHILIPPINE shares declined on Monday as investors remained cautious over the country’s economic outlook as the coronavirus pandemic continues to affect recovery prospects.
The Philippine Stock Exchange index (PSEi) declined by 1.59 points or 0.02% to close at 6,369.28 on Monday, while the all shares index inched down by 0.03 point to end at 3.923.
“The inability to sustain gains reflects investors’ low confidence towards the market, as they remain worrisome over our pandemic situation and economic outlook,” Meanwhile, Philstocks Financial, Inc. Senior Research Analyst Japhet Louis O. Tantiangco said in a Viber message.
“Trading became even more anemic… [this] shows that many investors are staying away from the local market due to the lingering uncertainties,” Mr. Tantiangco added.
BusinessWorld
April 29, 2021 | 12:33 am
DEL MONTE Philippines, Inc. (DMPI) on Wednesday revived its initial public offering (IPO) plan, which aims to raise as much as P44 billion.
In a filing with the Securities and Exchange Commission (SEC), DMPI said it will offer and sell up to 699.33 million secondary common shares, with an over-allotment option of up to 104.899 million common shares.
The shares will have a maximum price of up to P54.80 each, which could make DMPI’s IPO one of the biggest in the Philippines.
DMPI said the offer consists of existing common shares owned by Del Monte Pacific Ltd. (DMPL) subsidiaries Central American Resources, Inc., which will sell up to 15% of its 87% stake in DMPI, and SEA Diner Holdings (S) Pte Ltd., which is offering 10% of its 13% ownership in the company.