The local stock market rose for the third day as corporate earnings continue to buoy investor sentiment. The PSEi added 53.03 points or 0.82 percent to close at 6,483.11 as the Services sector led the rally across the board. Volume was relatively stable at 591 million shares worth P5.84 billion as...
Vitarich Corporation (PSE:VITA) reported a 47 percent drop in net income to P147.7 million in the first half of 2022 from the P276.9 million earned in the same period last year due to a surge in costs. In a disclosure to the Philippine Stock Exchange, the firm said revenues grew 21 percent to P5.5...
Nickel Asia Corporation (NAC), the Philippines’ largest producer of lateritic nickel ore, reported a 41 percent increase in attributable net income to P3.83 billion for the first semester of 2022 from P2.73 billion in the same period last year. In a disclosure to the Philippine Stock Exchange,...
Metro Pacific Investments Corporation reported a 24 percent growth in consolidated core net income to P7.5 billion for the first half of 2022, a post-pandemic high, from P6.0 billion a year earlier. In an online press briefing, MPIC Chief Finance Officer June Cheryl Cabal-Revilla said “improved...
The Philippine Stock Exchange (PSE) has approved the stock rights offering of Solar Philippines Nueva Ecija Corporation, the renewable power company founded by Leandro Leviste, worth up to P3.34 billion. The PSE also approved the proposed SRO timetable, with an Ex-Date of August 22, 2022, Record...
SM Investments Corporation (SMIC) reported that the Securities and Exchange Commission (SEC) has approved its acquisition of an 81 percent stake Allfirst Equity Holdings Inc. (Allfirst) in exchange for shares in SMIC. In a disclosure to the Philippine Stock Exchange, SMIC said Allfirst is the...
The local stock market kicked off August by managing to end flat after recovering from a drop earlier in the day. The main index was lower by just 3.90 points or 0.06 percent to close at 6,312.03 although sectoral indices were evenly mixed. A total of 434 million shares worth P5.16 billion changed...
The Securities and Exchange Commission (SEC) has cancelled the lending license and corporate registration of Flying Bear Lending Corporation which is operating as Yopeso, Morepeso and Rapidpeso. In a statement, the commission said the cancellation is due to the firm’s failure to disclose its...
CEBU City Mayor Michael Rama with President Ferdinand R. Marcos Jr. (FB photo) CEBU CITY – Mayor Michael Rama here and officials of the Megawide Construction Corp. (MCC) signed Sunday, July 31, the Supplemental Memorandum of Agreement (MOA) for the redevelopment of the century-old Carbon Market....
This week, the local stock market will be waiting for the June inflation rate announcement and some large cap corporate earnings results, although volume may be affected with the start of the Chinese Ghost Month. “The local market is expected to move sideways as investors wait for catalysts. In...
Aboitiz Equity Ventures Inc. reported a 12 percent dip in consolidated net income to P11.8 billion in the first half of 2022 from the P13.5 billion recorded during the same period last year. In a disclosure to the Philippine Stock Exchange, AEV said it recognized non-recurring gains of P2.7...
Semirara Mining and Power Corporation (SCC) is returning to the 30-company PSE index (PSEi), replacing Security Bank Corporation (SECB), effective Monday, August 8, 2022. In a statement, the Philippine Stock Exchange said Semirara was qualified to be a member of the PSEi based on the results of the...
