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JG Summit FY23 profit: P19.6-B (up 216%)
JG Summit, the Gokongwei Family’s diversified conglomerate, teased its FY23 financial results headlined by a 216% increase in the company’s net income to P19.6 billion......»»
DOJ charges 2 alleged NPA financiers with terrorism financing
According to the DOJ, the case stemmed after reports that Dumlao and Tolentino possessed firearms and ammunition without a clear source of income or apparent purpose......»»
Most Filipinos reject Charter change, lifting foreign ownership restrictions
An overwhelming majority of Filipinos oppose changing the 1987 Constitution at this time, according to a new Pulse Asia Survey, with results showing Filipinos in all regions and all socio-economic classes did not support the lifting of foreign ownership restrictions in key industries......»»
Upson International FY23 profit: P464-M (down 13.7%)
Upson International, the IT retailer primarily operating through the Octagon retail brand, teased its FY23 financial results headlined by a 13.7% dip in net income to P464 million......»»
Upson income drops despite record revenue
Listed IT products retailer Upson International Corp. posted record high revenue in 2023 but lower gross margin and higher expenses dragged down profit for the year......»»
First Gen income up 4 percent to P15.4 billion in 2023
Lopez-led power firm First Gen Corp. grew its income by four percent to P15.4 billion in 2023, from the previous year’s profit of P14.3 billion, mainly due to contributions from its geothermal subsidiary Energy Development Corp......»»
UN chief calls blocked aid for Gaza a moral outrage
A majority of Gaza's 2.3 million residents are sheltering around Rafah. Though conditions are worse in the north of the strip, the plight of civilians across the territory has deteriorated sharply as the conflict has ground on......»»
Insurance penetration rate slips further to 1.6 percent
The insurance industry saw its net income rise to P48 billion last year, but its contribution to the overall economy slipped further for the second straight year to only 1.6 percent......»»
Public sector banks doing better in managing NPAs vis-a-vis their private counterparts: FICCI-IBA survey
New Delhi [India], March 21 (ANI): Public sector banks in India are doing better in comparison to their private sector counterparts in terms of non-performing assets, a survey conducted by industry body FICCI and banking association Indian Banks' Association (IBA) found. A nonperforming asset refers to loans or advances that are on the brink of default. According to the survey, a large majority (77 per cent) of the respon.....»»
Cebu Landmasters FY23 profit: P4.6-B (up 29%)
Cebu Landmasters [CLI 2.85 unch] [link] teased its FY23 performance at an analyst briefing where it revealed full-year net income of P4.6 billion (up 29%) and total revenues of P18.8 billion (up 20%)......»»
Stocks rebound as Wall Street bounces back
Local stocks bounced back yesterday to close the week on a positive note as the local bourse mirrored gains in the US market......»»
SEC moves to liberalize stockbrokers’ commissions
The Securities and Exchange Commission (SEC) is moving to liberalize retail stock market trading to prop up volume in the local bourse......»»
Sports car ni Daniel Padilla nahalin na sa buyer nga taga Pampanga
Nahalin na ang luxury sports car ni Daniel Padilla nga gipalit sa usa ka buyer nga taga Angles, Pampanga, pila lang ka adlaw human migawas ang pahibaw sa Facebook Marketplace sa iyang plano nga pagbaligya sa maong sakyanan. Matud sa balita sa Bandera nga ang dealer nga si Franz Aldover una nga mihagad sa internet.....»»
PSE hopeful of better economic conditions this year
The operator of the local bourse is keeping its fingers crossed that better economic conditions would entice investors to return to the stock market this year......»»
PSE eyes reduction of market friction costs
The Philippine Stock Exchange plans to reduce friction costs as part of efforts to revive investor interest in the local bourse amid the challenging market conditions......»»
Bourse, peso fall amid elevated inflation
The stock market ended yesterday in the negative territory after the release of the September 6.1 percent headline inflation data, while the peso moved sideways on Thursday. The Philippine Stock Exchange index lost 119.6 points to close at 6,178.60, while the broader All Shares also dropped 49.81 points to 3,348.75. “Philippine shares fell towards closing as the latest inflation print came below expectations,” Regina Capital Development Corp. head of sales Luis Limlingan said. Red hot prices Headline inflation accelerated to 6.1 percent last month from 5.3 percent in August. All sectors dropped, led by Mining and Oil, which shed 184.98 points. Volume reached 676.7 million shares with a total value of P5.4 billion. Decliners led advancers at 119 to 67, while 45 shares were unchanged. The peso, meanwhile, closed at 56.67 to the dollar, slightly higher than the 56.71 finish on Wednesday. It opened the day at 56.6 from the previous day’s kick-off at 56.82. The currency pair traded between 56.59 and 56.69, bringing the day’s average to 56.63. The total volume of trade amounted to $1.23 billion, lower than the previous day’s $1.52 billion. The post Bourse, peso fall amid elevated inflation appeared first on Daily Tribune......»»
Bourse unwraps shorting rules
Bourse operator Philippine Stock Exchange Inc., or PSE, issues its approval yesterday for the immediate implementation of the Guidelines for Short Selling Transactions. PSE said critical components of securities borrowing and lending, or SBL provisions were also approved. Short selling can only function with an SBL program in place. PSE announces effectivity of short selling guidelines, other relevant SBL developments. Weak market buffer PSE announced SEC’s approval of offshore collateral for SBL in May 2023 while the Bureau of Internal Revenue accepted the filing and registration of the Global Master Securities Lending Agreement, or GMSLA, in September 2023. Short selling happens when a trader borrows shares and sells them in the hope that the price will fall after, so they can buy them back cheaper. The process can help traders profit from downturns in stocks and protect themselves from losses. “We are grateful to the SEC and BIR for their approvals on important regulatory aspects of SBL and short selling. This development brings us a step closer to the full adoption and implementation of these much-awaited programs,” PSE president and CEO Ramon Monzon said. The PSE also updated the eligible securities in its short selling guidelines to include members of the PSE midcap and PSE dividend yield indices. Initially, only securities comprising the PSE index and exchange traded funds, or ETFs, were considered eligible securities for short selling. The post Bourse unwraps shorting rules appeared first on Daily Tribune......»»
Why don’t you give stock pick recommendations?
While that answer works great for me, I can understand why it might not satisfy the intent of the question, so let me hit this from a few different angles......»»
Monumental mistake
There has been a rash of vandalism of historical landmarks in Europe by unruly tourists. On 23 August, the 460-year-old Vasari Corridor, a beautiful riverside passageway connected to the famous Uffizi Galleries in Florence, Italy, was sprayed with soccer-related graffiti. Local police used video surveillance footage to identify the vandals, two German students aged 20 and 21, who were staying with other students at a nearby Airbnb. The video footage showed the two spraying black paint on the arches of the elevated passageway running along the Arno River at 5:20 a.m. Italy’s Culture Ministry said the vandalism would require 10,000 euros worth of repairs, CNN reported. Police tracked the location of the two vandals and a search of their room yielded the evidence: two cans of black spray paint and paint-stained clothing. Uffizi Director Eike Schmidt called for the jailing of vandals defacing cultural heritage sites to deter similar violations in the future. In Brussels, Belgium, an Irish tourist visiting the local stock exchange known as The Bourse fancied the statues at the entrance of the building a day after it reopened on 9 September following three years of renovations that cost 90 million euros. A police officer caught on his camera the drunk Irishman climbing on the statue of a naked torch bearer beside a statue of a lion to have his picture taken. When the tourist was dismounting, he held onto the hand with the torch, breaking it with his weight. Police later arrested the Irishman in a nearby fast food restaurant, according to reports. The tourist was charged the cost of repairing the statue, a staggering 17,600 euros. The post Monumental mistake appeared first on Daily Tribune......»»
Big fuss over .02%
The Philippine Stock Exchange index is considered the gauge of the activity in the equities market and, by extension, of the economy since the direction of the line graph indicates the country’s financial health. The index tracks the price movements of a basket of select companies listed on the bourse, representing various sectors of the economy. Investors and market participants use the PSE index as a reference to evaluate the performance of their investment portfolios and make informed investment decisions. The daily movement of the index influences investor confidence and sentiment. Increased investor confidence can stimulate trading activity, attract foreign investments, and encourage local companies to raise capital through initial public offerings or secondary floats. A strong and stable PSE Index can enhance the stock market’s perception as an attractive investment destination. This could attract foreign capital inflows, increase liquidity, and contribute to developing the local capital market. Thus, the impending exit of Metro Pacific Investments Corp., or MPIC, and Aboitiz Power Corp., or APC, from the Philippine Stock Exchange index seems a bit off as both companies are major players in the country’s growth story. Replacing APC and MPIC in the exclusive blue chips club are tycoon Enrique Razon Jr.’s Bloomberry Resorts and the Po family’s Century Pacific Food. The revamp takes effect on Tuesday, 26 September. MPIC is stepping out of the index after its public float dropped to 2.78 percent as part of its program to delist by October. APC’s exclusion from the benchmark was decided on, however, after it missed by a few decimal points of the 20 percent float rule for stocks to be retained in the PSEi. The company purchased 11.4 million shares as part of its buyback program that brought the public float level to below 20 percent, the level required to stay in the PSEi. Based on APC’s report to the market, stocks owned by the public are 19.98 percent of the total listed shares of 7.35 billion. Listed companies are required to have a 10-percent public float, but the elite index members are given a more arduous 20-percent public ownership condition. APC is off by .02 percent. APC’s buyback activities increased non-public scrips to 5.886 billion, bringing the total number of publicly owned shares to 1.47 billion. “Aboitiz Power’s current public ownership levels far exceed the 10-percent minimum public ownership level required for it to remain listed in the Philippine Stock Exchange,” an APC statement to the PSE said. “Even with this stock buyback program, there is no intention to delist from the PSE, but merely to reward our existing shareholders with a larger share of a brighter future,” APC added. The PSEi must accurately reflect the stock market’s overall performance and, in the bigger picture, the economy’s strength. Its composition should go beyond the mere technical criteria to allow a more representative indicator of the daily activity of the market. APC accounts for one out of every five megawatts, or MW, of installed capacity in the country and has some 1,000 MW of renewable energy capacity in the pipeline. In the first half of the year, the company reported a P17.8-billion net income, 79 percent higher than the P10 billion recorded in the same period a year ago. In the second quarter, the company’s net income reached P10.3 billion, 46 percent higher than the P7 billion profit a year ago. The decision to remove a key bourse participant, which also has among the most active shares, is like benching your star player because he forgot to bring a matching pair of socks. The post Big fuss over .02% appeared first on Daily Tribune......»»