Business NEWS

A rout that’s made the Philippine benchmark equity gauge the worst performer in the Asia Pacific region risks worsening in the wake of fresh virus curbs.

The local stock market is seen to continue falling as COVID-19 cases in the Philippines remain on the uptrend while investors see the CREATE Law as not enough to help listed firms hurdle their pandemic-related problems.

The local stock market is seen to fall lower this week as the number of new COVID-19 cases continued to rise—raising the specter of an enhanced community quarantine which had almost grounded the Philippine economy to a halt last year.

The local stock market suffered a steeper fall as reality sets in on how bad the COVID-19 situation is being handled, raising fears of a reverting to more restrictions in the year-long lockdown.

Local share prices rose on continued bargain hunting on the back of gains in the US bourses overnight.

The local stock market managed to eke out a small gain as investors picked up some bargains while remaining wary of rising COVID cases.

The Securities and Exchange Commission (SEC), The Philippine Stock Exchange, Inc. (PSE) and Philippine Depository & Trust Corp. (PDTC) are working closely together to investigate the trading of unissued and unlisted shares of Abra Mining and Industrial Corporation (AR).

Trading at the local stock market this week is seen to be weighed down by the surge in COVID-19 cases as well as the impact of high inflation while corporate earnings and the employment report may provide some relief if there are any positive surprises.

DoubleDragon Properties Corporation has set the initial public offering price of DDMP REIT, Inc. (DDMPR), the second Real Estate Investment Trust (REIT) to debut on the bourse, at P2.25 per share. 

The Philippine Stock Exchange, Inc. (PSE) has approved the listing of the P14.7 billion initial public offering (IPO) of DDMP REIT, Inc. (DDMPR), the second Real Estate Investment Trust (REIT) to debut on the bourse.

Local share prices rose Friday, ( Feb. 26) as investors picked up bargains amid news that vaccines will finally arrive, ignoring an overnight sell-off in Wall Street.

Local share prices dropped on Wednesday, (Feb. 24)   as sentiment continue to be weighed down by government’s decision not to ease lockdown measures.

One generating unit of the 632-megawatt GNPower Mariveles Center Ltd. Co. (GMEC) coal-fired plant of the Aboitiz-Ayala joint venture suffered ‘forced outage’ due to technical glitch in its boiler.

Garcia-led Vivant Energy Corporation has expanded its power investments in Mindanao, and this was concretized via an equity acquisition in power generation facility owned by Senator Juan Miguel Zubiri.

The local equities market managed to end in the green on Tuesday, (Feb.  23)  after trading in negative territory most of the day as investors started picking up cheaper stocks.

Local share prices bounced  Friday (Feb. 19) from recent losses as investors started to pick up bargains ahead of the weekend. The main index rose 76.77 points or 1.12 percent to close at 6,926.41 as the Holding Firms and Mining and Oil counters led gains across the board. 

The local stock market fell  Thursday, (February 18) as investors are jittery over developments here and overseas.

The local stock market bounced back to the 7,000 level  as global  stocks rallied. The PSEi hiked 84.85 points or 1.22 percent to close at 7.044.06 as sub-indices rose across the board.