Business NEWS

The Philippine Stock Exchange (PSE) reported a 63 percent leap in consolidated net income to P377.98 million in the first half of 2021 from the P231.76 million earned in the same period last year.

The local stock market will continue to be swayed by news on whether COVID-19 cases are still rising or finally tapering while some investors may be raising cash for upcoming initial public offerings of real estate investment trusts.

Trading at the stock market this week will be influenced by the COVID-19 situation as well as the release of key economic data by the Philippine and US governments.

The Philippine Stock Exchange (PSE) will lift the trading suspension of Prime Media Holdings Inc. (PRIM) on Monday, Aug. 9, 2021 at 9 a.m. after the company submitted the required Comprehensive Corporate Disclosure on Backdoor Listing.

Trading at the Philippine Stock Exchange (PSE) will continue even during the imposition of the enhanced community quarantine starting August 6, 2021.

This week, the Philippine stock market will be looking for cues from corporate earnings reports and government announcement of inflation and employment data but these will be weighed down by the imposition of a lockdown amid the coming Chinese ghost month.

This week, the local stock market is seen to continue being weighed down by fears of a fresh surge in COVID-19 cases as government reports more new cases of the more contagious Delta variant.

The local stock market is seen to be weighed down by concerns over the local transmission of the more infectious Delta variant of the SARS-COV2 coronavirus and fear of another surge in new cases.

The local stock market is not seen to make a big bounce from last week’s fall due to rising concerns over the spread of the COVID-19 Delta variant while oil prices continue to go up.

The local stock market ended the week on a positive note  Friday, (July 2), breaching the psychological 7,000 resistance level, as investors continue to chew on upbeat labor and production data. 

Businessmen in the country mourn the passing of former President Benigno S. Aquino III, whose administration they described as a reign of fiscal stability and good governance.

Stock trading is seen to be influenced further by updates on the country’s COVID numbers and progress in its vaccination program while all eyes and ears will be on the Bangko Sentral as the Monetary Board meets later this week

The Taguig City government has already administered 210,724 first and second doses of the coronavirus disease (COVID-19) vaccine.

The Philippine Stock Exchange Inc. reported that its net income tripled in the first quarter of 2021 to P151.5 million from the P50.62 million it earned in the same period last year.

After the unexpected surge in stock prices last week, investors will now be looking forward to the government’s decision on whether to further relax quarantine measures in the National Capital Region and surrounding provinces.

The reforms initiated by the government to deepen the local capital markets will ensure the economy to emerge stronger and more resilient in the aftermath of the prolonged pandemic, the Duterte administration’s chief economic manager said.

Small local investors were still the main movers of the Philippine Stock Exchange (PSE) in the first-quarter this year, which the Department of Finance (DOF) attributed to the trust and confidence of the public in the regulatory institutions.

The local stock market is seen to continue to wait for fresh leads this week as foreign investors are seen to continue to leave while liquidity is seen to dry up due to the massive Monde Nissin initial public offering.