BusinessWorld
February 19, 2021 | 5:37 pm
LOCAL SHARES ended the week higher amid a recommendation to place Metro Manila under eased restriction measures as the government finalizes its vaccination program.
The benchmark Philippine Stock Exchange (PSEi) gained 76.77 points or 1.12% to finish at 6,926.41 on Friday. The all shares index also rose 28.51 points or 0.68% to close at 4,199.
“The market rebounded today, perhaps aided by the possible call to go to MGCQ (modified general community quarantine). Also the market found some support near the 6,800 zone after correcting for almost five days,” COL Financial Group, Inc. Chief Technical Analyst Juanis G. Barredo said in a Viber message on Friday.
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Researcher
MARKET investors snapped up Apollo Global Capital, Inc. shares last week after it firmed up its majority owned unitâs 10,000-ton-per-day magnetite iron ore offshore mining operation in Cagayan this month.
A total of 13.05 billion Apollo shares worth P2.78 billion were traded from Feb. 1 to 5, data from the Philippine Stock Exchange showed, making it the third most actively traded issue last week.
Shares in Apollo finished the week at 20.3 centavos apiece, 4.6% up from Jan 29âs 19.4 centavos. These have jumped by 24.5% since the start of the year.
âThere was already a lot of positive speculation regarding Apolloâs mining operations beginning mid-January, which drove its share price to significant highs. [S]o once the firm confirmed the news [last] week, it was more or less already priced in â as seen from the thin price range Apollo has been trading at since the start of February,â Regina Capital Development Corp. Equity Analyst Anna Corren
Published February 1, 2021 6:51pm By JON VIKTOR D. CABUENAS, GMA News Philippine share prices surged by over 3% on Monday, driven by optimism over the availability of vaccines in the country by March. The local stock barometer PSEi gained 202.14 points or 3.06% to close at 6,814.76 at the closing bell. The broader All Shares gained 96.34 points or 2.40 to 4,103.67. Monday s climb came after announcements of COVID-19 vaccine availability, and ahead of the release of January inflation data on Friday, February 05. Philippine shares began February on a more upbeat tone closing above 6,800 as the GameStop ruckus and vaccine news that stressed the market slowly dissipated to make way for earnings releases and the latest inflation data, Luis Limlingan, head of sales at Regina Capital Development Corp., said in a mobile message.