Cautious trading is expected in the local stock market this week as investors continue to weigh the impact of the lower-than-expected economic growth pace announced last week, though foreign direct investments and corporate earnings reports could spur bouts of bargain hunting. “For next week, the...
Maynilad Water Services Inc.’s initial public offering (IPO) failed to buoy the market as the Philippine Stock Exchange index (PSEi) plunged to its lowest level in almost five years on Friday, Nov. 7, after the economy grew at a slower-than-expected pace. The benchmark index fell by 76.22 points,...
It’s all systems go for the initial public offering (IPO) of Maynilad Water Services Inc., which is tagged to be the biggest stock offering in the last four years. Amidst the continuing political drama surrounding the floodgate mess, there is no stopping Maynilad’s IPO, especially with...
The Philippine Stock Exchange Index (PSEi) rose, recouping losses in thin trading as positive corporate earnings buoyed sentiment. The main index gained 17.53 points, or 0.30 percent, to close at 5,835.59 on Thursday, Nov. 6. Miners led the advance while the Industrial sector lagged. Volume was...
The Philippine Stock Exchange index (PSEi) continued its slide, dropping 48.98 points or 0.83 percent to close at 5,818.06 on Wednesday, Nov. 5, driven by persistent investor anxiety that the third-quarter economic growth will fall short of the government’s target. The main index’s retreat...
The Philippine Stock Exchange index (PSEi) rallied on bargain hunting following Monday’s steep selloff, with a stronger peso and improved manufacturing data buoying investor sentiment. The main index rose 38.98 points, or 0.67 percent, to close at 5,867.04 on Tuesday, Nov. 4. Sectoral indices,...
The Philippine Stock Exchange index (PSEi) crashed to its lowest level in three years, wiping out gains amid a market-wide panic triggered by persistent inflation fears and weaker-than-expected economic performance. The main index fell by 101.62 points, or 1.71 percent, closing the session at...
The Securities and Exchange Commission (SEC) wants to exempt more corporations from the mandatory submission of audited financial statements, in a bid to further reduce compliance costs for micro, small, and medium enterprises (MSMEs). In a policy paper submitted to the Department of Finance (DOF)...
Stock market investors will focus on a data-heavy week, with trading cues centered on the release of inflation and economic growth figures and the highly anticipated listing of Maynilad Water Services Inc. shares following its massive initial public offering (IPO). However, Philstocks Financial...
The Securities and Exchange Commission (SEC) has slapped a ₱1-million fine against Surity Cash Lending Investors Corp. for its unfair debt collection practices. The Commission En Banc decided to impose the fine after Surity Cash was found to have committed three counts of violation of SEC...
Volatility in the peso-dollar market will persist as long as no concrete actions are taken to address the political uncertainties that have seeped into the financial markets. This uncertainty will eventually impact the country’s potential for economic growth. Yes Virginia, our dear local currency...
The Philippine Stock Exchange Index (PSEi) dropped after a two-day reprieve as investors weighed concerns over inflation and gross domestic product figures due for release next week. The benchmark gauge fell 34.09 points, or 0.57 percent, to close at 5,929.68 on Thursday, Oct. 30. Banks led the...
