Local stocks retreated on Thursday, April 23, as the central bank 's interest-rate hike and heightened geopolitical tensions between the United States (US) and Iran dampened investor appetite for riskier assets. The Philippine Stock Exchange index (PSEi) slipped 5.75 points, or 0.1 percent, to...
While Asian currencies have been on a modest decline since Middle East tensions flared up, Japanese financial giant MUFG Bank Ltd. said the Philippine peso was the biggest loser among regional currencies, given the domestic economy’s high exposure to imported oil. Separately, think tank Capital...
Local equities fell for the second consecutive session, dragging the benchmark index below the psychological 6,000-level as investors braced for the potential interest rate hike by the central bank and monitored simmering geopolitical tensions in the Middle East. The Philippine Stock Exchange index...
The majority shareholders of the Lopez family have petitioned the Securities and Exchange Commission (PSE) and the Philippine Stock Exchange (PSE) to investigate First Gen Corp. over alleged disclosure violations involving “poison pill” provisions in agreements with Prime Infrastructure...
Local stocks ended Tuesday’s session virtually unchanged as investors balanced optimism over potential diplomatic breakthroughs in the Middle East against domestic concerns regarding tightening monetary policy. The Philippine Stock Exchange index (PSEi) edged up 2.67 points, or 0.04 percent, to...
The Philippine Stock Exchange index (PSEi) managed to advance on Monday, April 20, despite news that the Strait of Hormuz remains closed amid mixed signals from the United States (US) and Iran regarding their peace talks. The main index added 16.9 points, or 0.28 percent, to close at 6,016.03....
First Philippine Holdings Corp. (FPH) indefinitely postponed its annual shareholders’ meeting as bitter internal feud between factions of the Lopez family spills over into the boardroom of one of the country’s most prominent conglomerates. The company informed the Philippine Stock Exchange on...
Private sector economists are split over whether the Bangko Sentral ng Pilipinas (BSP) will raise interest rates this week, as the need to anchor inflation expectations and defend the peso battles concerns over the fragile economic recovery. Of 10 economists surveyed, five expect a 25-basis-point...
The Philippine Stock Exchange index (PSEi) fell below the 6,000 level on Friday, April 17, as investors cashed out ahead of the weekend amid concern over the economic impact of the oil crisis. The main index lost 64.56 points, or 1.06 percent, to close the week at 5,999.13. Conglomerates led the...
While the oil-induced inflation spike in the Philippines is raising concerns, think tank Capital Economics expects the Bangko Sentral ng Pilipinas (BSP) to keep key interest rates steady for the rest of the year. In an April 15 report, Capital Economics chief emerging markets (EMs) economist...
First Gen Corp. clarified the inclusion of “Key Man” clauses in its hydropower joint venture with Prime Infrastructure Capital Inc., dismissing descriptions of the management control provisions as a “poison pill” and asserting the terms were a requirement of its partner. The power producer...
The Philippine Stock Exchange index (PSEi) bounced on Wednesday, April 15, as news of another round of United States (US)-Iran talks led to some bargain hunting. The main index added 50.25 points, or 0.84 percent, to close at 6,063.35. Banks and services led the advance across the board. Volume...
