(philstar.com)
MANILA, Philippines (Xinhua) - The local central bank's decision to keep key benchmark rates unchanged and the positive performance of the US market lifted the Philippine stock market on Friday, although some investors already started selling down their shares following the local index's two-day strong run-up.
The bellwether Philippine Stock Exchange index rose by 0.21 percent or 6.88 points to close at 3,244.45 on Friday although week-on-week, the local composite index slipped by 0.64 percent after its two-day sell off at the start of the week.
The broader all share index was also up by 0.35 percent or 7.06 points to 2,017.92 but three-financials, services and mining and oil sector-of the six counters tumbled.
A total of one billion shares valued at P3.8 billion ($85.59 million) were changed hands. Gainers barely outwit losers 49 to 47 while 67 stocks did not move.
"We were expecting a correction ahead of the weekend and after the market's strong performance on Wednesday and Thursday but there were strings of positive news which I guess countered the profit takers," Paul Balaoing of PCCI Securities Brokers Corp. said.
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Sunday, April 25, 2010
Monday, April 12, 2010
Roundup: Philippine stocks rally Monday as investors resume buying spree
(Trading Markets.com)
Philippine stocks rallied on Monday as investors resumed their buying spree following the positive developments overseas.
The bellwether Philippine Stock Exchange index added 1.19 percent or 38.71 points to touch a two-year-and two-month high of 3,294.83. Likewise, the broader all share index gained 0.79 percent or 16.04 points to 2,035.62.
Trading value was above the three billion-peso average where a total of 1.21 billion shares valued at 4.24 billion pesos (94.43 million U.S. dollars) were changed hands. Foreign buyers beat sellers 1.94 billion pesos (43.21 million U.S. dollars) versus 1. 67 billion pesos (37.19 million U.S. dollars), respectively.
Most issues were in the upside where a total of 64 issues went up versus the 41 stocks that closed lower. Some 65 shares meanwhile were unchanged.
Similarly, all six sectors finished in the green, led by the property shares which was up by 2.78 percent or 33.33 points to 1, 231.29.
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Philippine stocks rallied on Monday as investors resumed their buying spree following the positive developments overseas.
The bellwether Philippine Stock Exchange index added 1.19 percent or 38.71 points to touch a two-year-and two-month high of 3,294.83. Likewise, the broader all share index gained 0.79 percent or 16.04 points to 2,035.62.
Trading value was above the three billion-peso average where a total of 1.21 billion shares valued at 4.24 billion pesos (94.43 million U.S. dollars) were changed hands. Foreign buyers beat sellers 1.94 billion pesos (43.21 million U.S. dollars) versus 1. 67 billion pesos (37.19 million U.S. dollars), respectively.
Most issues were in the upside where a total of 64 issues went up versus the 41 stocks that closed lower. Some 65 shares meanwhile were unchanged.
Similarly, all six sectors finished in the green, led by the property shares which was up by 2.78 percent or 33.33 points to 1, 231.29.
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Saturday, April 10, 2010
Sun Life to expand RP operations
(
INSURANCE GIANT SUN LIFE OF Canada has mapped out an aggressive five-year expansion program that aims to double its net income and agency force, quadruple sales and potentially become the largest player in the Philippine market.
Sun Life Financial, which recently celebrated its 10th listing anniversary on the Philippine Stock Exchange, has been in the local market for 115 years and is the country’s second biggest insurance provider.
In an interview at the sidelines of the listing anniversary on Thursday, SLF Philippines president Riza Mantaring said the company had set targets for the next five years that were “more aggressive than we ever had.”
The plan requires the hiring of additional manpower to expand the agency force to 5,000 from the current 2,500 in five years as well as grow the distribution channel in provincial areas. At present, 70 percent of the company’s sales come from Metro Manila.
Mantaring said the company recently created a team to focus on provincial expansion. The goal is to strengthen brand visibility in various key cities.
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INSURANCE GIANT SUN LIFE OF Canada has mapped out an aggressive five-year expansion program that aims to double its net income and agency force, quadruple sales and potentially become the largest player in the Philippine market.
Sun Life Financial, which recently celebrated its 10th listing anniversary on the Philippine Stock Exchange, has been in the local market for 115 years and is the country’s second biggest insurance provider.
In an interview at the sidelines of the listing anniversary on Thursday, SLF Philippines president Riza Mantaring said the company had set targets for the next five years that were “more aggressive than we ever had.”
The plan requires the hiring of additional manpower to expand the agency force to 5,000 from the current 2,500 in five years as well as grow the distribution channel in provincial areas. At present, 70 percent of the company’s sales come from Metro Manila.
Mantaring said the company recently created a team to focus on provincial expansion. The goal is to strengthen brand visibility in various key cities.
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Index retreats after three-day advance
(Business World)
THE LOCAL bourse paused from a three-day rally, ending yesterday’s trading session with a correction.
The benchmark Philippine Stock Exchange index (PSEi) lost 0.44% or 14.25 points to close at 3,256.12. The broader all shares index dipped, dropping 0.27% or 5.56 points to 2,019.58.
Decliners led advancers 54 to 37, while 79 issues were unchanged.
Total volume traded reached 973.11 million shares valued at P5.12 billion.
There were more foreign buyers than sellers, with net foreign buying amounting to P42.89 million.
Equity market analysts said the PSEi’s retreat was a healthy correction given its gains in the past three days.
“The fall was a healthy correction,” Elizabeth S. Abadillo of Angping & Associates, Inc., told BusinessWorld in a phone interview yesterday.
She noted that PSEi’s gain last Wednesday was not high because of some profit taking.
“Profit taking continued yesterday, which resulted in the index’s fall,” she added.
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THE LOCAL bourse paused from a three-day rally, ending yesterday’s trading session with a correction.
The benchmark Philippine Stock Exchange index (PSEi) lost 0.44% or 14.25 points to close at 3,256.12. The broader all shares index dipped, dropping 0.27% or 5.56 points to 2,019.58.
Decliners led advancers 54 to 37, while 79 issues were unchanged.
Total volume traded reached 973.11 million shares valued at P5.12 billion.
There were more foreign buyers than sellers, with net foreign buying amounting to P42.89 million.
Equity market analysts said the PSEi’s retreat was a healthy correction given its gains in the past three days.
“The fall was a healthy correction,” Elizabeth S. Abadillo of Angping & Associates, Inc., told BusinessWorld in a phone interview yesterday.
She noted that PSEi’s gain last Wednesday was not high because of some profit taking.
“Profit taking continued yesterday, which resulted in the index’s fall,” she added.
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