(philstar.com)
MANILA, Philippines (Xinhua) - The Philippine stock market opened the week with minimal gain, indicating that most investors are still unsure of the local equity trade despite its past rallies.
The bellwether Philippine Stock Exchange ended Monday marginally higher, up 0.12 percent or 3.88 points to 3,067.79. The all share index gained 4.56 points or 0.23 percent higher to finish at 1,935.58.
Investors' interest was lackluster, with 907 million shares worth P2.28 billion ($49.9 million) traded. Foreign sellers beat buyers at P1.1 billion ($24.08 million).
Investors are wary of entering the market given the absence of market moving news, analysts said.
"Investors are all waiting for one another to make the move before making their own bets," says Tristan Valerio, analyst at local brokerage firm Lucky Securities, Inc.
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Monday, March 15, 2010
Monday, March 1, 2010
URC to spend P3.82-B for 2010 capex
(abs-cbnNEWS.com)
MANILA, Philippines - Gokongwei-led Universal Robina Corp. has set aside P3.82 billion for capital expenditures this year, bulk of which will be spent for its snack food and beverage businesses.
In a preliminary filing with the Philippine Stock Exchange, the food manufacturing arm of JG Summit Holdings Inc. said P3.1 billion of the total amount would be channeled for the expansion of its branded food segment operations, particularly for snack production facilities in the Philippines and beverage production facilities in Thailand and Vietnam.
About P260 million will go to the company's sugar mill, and another P263 million will be earmarked for its agro-industrial group's farm and feeds divisions.
Universal Robina in involved in a wide range of food-related businesses, including manufacture and distribution of branded consumer goods; production of hogs and day-old chikcs; manufacture of animal feeds, glucose and veterinary compounds; flour milling; and sugar milling and refining.
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MANILA, Philippines - Gokongwei-led Universal Robina Corp. has set aside P3.82 billion for capital expenditures this year, bulk of which will be spent for its snack food and beverage businesses.
In a preliminary filing with the Philippine Stock Exchange, the food manufacturing arm of JG Summit Holdings Inc. said P3.1 billion of the total amount would be channeled for the expansion of its branded food segment operations, particularly for snack production facilities in the Philippines and beverage production facilities in Thailand and Vietnam.
About P260 million will go to the company's sugar mill, and another P263 million will be earmarked for its agro-industrial group's farm and feeds divisions.
Universal Robina in involved in a wide range of food-related businesses, including manufacture and distribution of branded consumer goods; production of hogs and day-old chikcs; manufacture of animal feeds, glucose and veterinary compounds; flour milling; and sugar milling and refining.
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RP stocks close higher on hopes of robust 2009 corporate earnings
(philstar.com)
MANILA, Philippines (Xinhua) - The Philippine stock market closed higher Monday as investors start positioning in blue chips on expectations of strong corporate earnings.
The bellwether Philippine Stock Exchange index rose 1.15 percent or 35.16 points to 3,078.91, along with the all share index which increased by 0.83 percent or 16.16 points to 1,944.50.
Telecommunications giant Philippine Long Distance Telephone Co. (PLDT), Metro Pacific Investments Corp. and conglomerate Ayala Corp are scheduled to release their 2009 income results this month.
Analyst Jun Calaycay of local brokerage Accord Capital Equities Corp. said it is widely expected that companies will report positive earnings coming from a low base in 2008.
"There is only a month left before the quarter ends so the release of 2009 corporate results will become more frequent. Investors are already starting to position in anticipation of these results," Calaycay said. Stocks in the 30-company index were the issues that finished strongly. These include heavyweight PLDT and property firms Ayala Land, Inc and Megaworld Corp.
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MANILA, Philippines (Xinhua) - The Philippine stock market closed higher Monday as investors start positioning in blue chips on expectations of strong corporate earnings.
The bellwether Philippine Stock Exchange index rose 1.15 percent or 35.16 points to 3,078.91, along with the all share index which increased by 0.83 percent or 16.16 points to 1,944.50.
Telecommunications giant Philippine Long Distance Telephone Co. (PLDT), Metro Pacific Investments Corp. and conglomerate Ayala Corp are scheduled to release their 2009 income results this month.
Analyst Jun Calaycay of local brokerage Accord Capital Equities Corp. said it is widely expected that companies will report positive earnings coming from a low base in 2008.
"There is only a month left before the quarter ends so the release of 2009 corporate results will become more frequent. Investors are already starting to position in anticipation of these results," Calaycay said. Stocks in the 30-company index were the issues that finished strongly. These include heavyweight PLDT and property firms Ayala Land, Inc and Megaworld Corp.
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