BusinessWorld
May 24, 2021 | 9:00 pm
COURTESY OF PHILIPPINE STOCK EXCHANGE, INC.
THE MAIN INDEX declined on Monday due to a lack of catalysts and amid inflation concerns in the United States, which raised fears of a sooner-than-expected tapering by the US Federal Reserve.
The Philippine Stock Exchange index (PSEi) declined by 34.36 points or 0.55% to close at 6,164.89 on Monday, while the all shares index went down by 21.46 points or 0.55% to 3,821.27.
“There was no fresh lead in the market and most traders were seen on the sidelines given the weak participation,” Philstocks Financial, Inc. Research Associate Claire T. Alviar said in a Viber message.
BusinessWorld
May 25, 2021 | 12:08 am
Valmonte
THE growing number of companies offering or expressing interest in tapping the real estate investment trust (REIT) market signal confidence in the capital market, but their dividends will be watched by investors, analysts said.
âIt shows that companies feel that the capital market is a good place to raise money, and it also shows that there are available investors ready to take them,â Juanis G. Barredo, chief technical analyst of COL Financial Group, Inc., said in a Viber message last week.
âIf they feel or sense otherwise, they [will] defer such offerings,â he added.
Rizal Commercial Banking Corp. (RCBC) Chief Economist Michael L. Ricafort said seeing more companies offer REITs is âa good signal on the further progress and development of the countryâs capital market.â
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BusinessWorld
May 17, 2021 | 9:00 pm
PHILIPPINE shares posted gains on Monday on last-minute buying and as investors went bargain hunting ahead of the central bank’s release of latest remittance data.
The Philippine Stock Exchange index (PSEi) went up by 14.22 points or 0.22% to close at 6,283.58 on Monday, while the all shares index gained 10.43 points or 0.27% to end at 3,861.41.
“The PSEi managed to inch higher on last-minute buying, similar to last Friday’s trading,” AAA Southeast Equities, Inc. Research Head Christopher John Mangun said in an e-mail.
Mr. Mangun said market sentiment remained subdued, but there is now “more buying at the cheaper levels.”
BusinessWorld
May 10, 2021 | 12:01 am
Outlier
INVESTORS sold off Megaworld Corp. shares last week following news of the property developer’s decision to increase capital expenditures (capex) for the year.
A total of 165.68 million Megaworld shares worth P508.98 million were traded from May 3 to 7, data from the Philippine Stock Exchange showed.
The stock closed at P3.01 apiece on Friday, down 4.4% from the P3.15-per-share closing price a week ago. The stock has declined 28% since the start of the year.
“Megaworld ended as one of the most actively traded stocks [last] week as the company earmarked a higher capex of P36 billion this year, with the bulk set aside for the construction of new residential properties,” Charlene Ericka P. Reyes, officer-in-charge of trading and research at First Resources Management and Securities Corp., said in an e-mail.