The local equities market rose to another record high following the statement of BSP Governor Amando Tetangco that interest rates will be kept low this year.
The PSEi closed at 73.06 points higher or +1.25% to 5,934.05 (5,960/5861 Hi/Lo). All sectoral indices ended higher, led by the mining and oil (+1.66%), property (+1.33%) and industrial (+1.13%) sectors.
Market breadth was positive with advances outnumbering declines 121 to 47 with 43 stocks unchanged. Value turnover reached Php7.53 billion (vs 2012 full year daily average of Php7.09 billion).
According to National Treasurer Rosalia De Leon, the Aquino administration is looking to borrow US$750 million to US$1 billion from the foreign commercial debt market this year with fund-raising activities to begin after January.
Showing posts with label Business. Show all posts
Showing posts with label Business. Show all posts
Thursday, January 3, 2013
Saturday, December 15, 2012
Profit Taking Continues in PSE
The local equities market dragged as investors continued to take profits from the recent all-time highs. The PSEi lost 80.84 points, or -1.40%, to close at 5,707.11.
All sectoral indices ended in the red led by property which lost 1.61%, holding firms which lost 1.45% and financials which lost 1.38%.
Index declines were led by SM (-1.92%) and ALI(-3.09%). Market breadth was negative with declines outnumbering advances 106 to 71 with 34 stocks unchanged. Value turnover was at Php 12.77 billion.
All sectoral indices ended in the red led by property which lost 1.61%, holding firms which lost 1.45% and financials which lost 1.38%.
Index declines were led by SM (-1.92%) and ALI(-3.09%). Market breadth was negative with declines outnumbering advances 106 to 71 with 34 stocks unchanged. Value turnover was at Php 12.77 billion.
Sunday, December 9, 2012
Eurozone Still in Financial Trouble
The European Central bank (ECB) cut its 2013 economic growth forecast for the Euro-zone, another grim foreshadowing for the 17-nation currency bloc in the year ahead.
The ECB downwardly revised its growth forecast to -0.3% from the 0.5% growth it initially estimated just three months ago.
According to Mario Draghi, a combination of improved financial market confidence and the central bank’s “accommodative” monetary policy would help generate recovery during the latter part of 2013, and added that they expected a growth of between 0.2% and 2.2% in 2014.
The ECB downwardly revised its growth forecast to -0.3% from the 0.5% growth it initially estimated just three months ago.
According to Mario Draghi, a combination of improved financial market confidence and the central bank’s “accommodative” monetary policy would help generate recovery during the latter part of 2013, and added that they expected a growth of between 0.2% and 2.2% in 2014.
Nook Simple Touch E-Reader Deal at $79
Barnes & Noble has decided to slash $20 off the Nook Simple Touch e-reader tomorrow, bringing the price to $79.
The Nook Simple touch is a simple electronic reader with touch screen and monochromatic e-ink. Many ebook enthusiasts use it for its straightforward function of being a reader, more than a tablet computer.
Recently, Walmart has been offering refurbished models of the Simple Touch for $50, while those who did some Black Friday shopping might have gotten it for a mere $60.
The Nook Simple touch is a simple electronic reader with touch screen and monochromatic e-ink. Many ebook enthusiasts use it for its straightforward function of being a reader, more than a tablet computer.
Recently, Walmart has been offering refurbished models of the Simple Touch for $50, while those who did some Black Friday shopping might have gotten it for a mere $60.
Ayala and Aboitiz Partners To Develop Cebu Airport
Ayala Corp. (AC) and Aboitiz Land, Inc. have signed a memorandum of agreement with US-based firm ADC & HAS Airports, Inc. for the development of the Mactan-Cebu International Airport through the government’s public-private partnership (PPP) program.
The project involves the construction of a new passenger terminal which can hold 8 million passengers a year.
The airport project will be under the build-rehabilitate-operate-transfer scheme and will be divided into two parts, namely: "initial investment" which will cost Php8.873 billion and "future investment" which will cost Php8.647 billion.
The project involves the construction of a new passenger terminal which can hold 8 million passengers a year.
The airport project will be under the build-rehabilitate-operate-transfer scheme and will be divided into two parts, namely: "initial investment" which will cost Php8.873 billion and "future investment" which will cost Php8.647 billion.
Monday, November 26, 2012
Best Buy Cyber Monday 2012 Sale Begins
Big box computer and consumer electronics retailer, Best Buy, is making sure that shoppers who missed Black Friday 2012 can still get the best deals from them this Cyber Monday as they released several great sales items online.
Best Buy is offering Cyber Monday deals and promos for PC's, laptops and tablet computers. Among them, a 10-inch Android selling at just under $300 price point. As with an Asus TF300T laptop with 16GB of storage now only at $279.99, or the 16GB Acer Iconia A200 with $120 taken off the price tag.
Laptop deals under $300 can also be found in Best Buy such as the $249.99 Dell Inspiron and the $269.99 Lenovo IdeaPad. If you have a little more budget, then you should check out the 15.6-inch Dell Inspiron selling only at $399.99.
Best Buy is offering Cyber Monday deals and promos for PC's, laptops and tablet computers. Among them, a 10-inch Android selling at just under $300 price point. As with an Asus TF300T laptop with 16GB of storage now only at $279.99, or the 16GB Acer Iconia A200 with $120 taken off the price tag.
Laptop deals under $300 can also be found in Best Buy such as the $249.99 Dell Inspiron and the $269.99 Lenovo IdeaPad. If you have a little more budget, then you should check out the 15.6-inch Dell Inspiron selling only at $399.99.
Dow Jones Industrial Average Index Up Last Week
US equities closed the week on a positive note during its shortened trading session last Friday, as investor sentiment was boosted by optimistic data from Germany and China.
The Dow Jones Industrial Average index leapt 172.79 points to 13,009.68 while the S&P500 index soared 18.12 points to close at 1,409.15.
This year, sales on Black Friday were noticeably lower as much of the shopping began on Thanksgiving last Thursday.
The Dow Jones Industrial Average index leapt 172.79 points to 13,009.68 while the S&P500 index soared 18.12 points to close at 1,409.15.
This year, sales on Black Friday were noticeably lower as much of the shopping began on Thanksgiving last Thursday.
Sunday, November 25, 2012
Cyber Monday Discount Coupon Codes 2012
The best thing about online shopping is that you can always get special discounts by using the available coupon codes that retailers are giving out to the public.
However, coming by these Cyber Monday discount coupon codes can be a little challenging.
But no fear, we've rounded up a good list of those codes below so that you can get the best deals this coming Cyber Monday 2012.
However, coming by these Cyber Monday discount coupon codes can be a little challenging.
But no fear, we've rounded up a good list of those codes below so that you can get the best deals this coming Cyber Monday 2012.
Small Business Saturday Now on Third Year
Big box retailers had their day during Black Friday, while online stores will have their turn on Cyber Monday.
The question now is, what will people do in between - on Saturday and Sunday.
While many merchants choose to continue their Black Friday deals through the weekend, and online vendors usually start their Cyber Monday sale as soon as Friday ends, a new initiative is hoping that small, local stores can also have their day in the sun.
The question now is, what will people do in between - on Saturday and Sunday.
While many merchants choose to continue their Black Friday deals through the weekend, and online vendors usually start their Cyber Monday sale as soon as Friday ends, a new initiative is hoping that small, local stores can also have their day in the sun.
Saturday, November 24, 2012
Global Market Recover at End Week
Global markets recovered from the previous week’s losses following the release of upbeat data from the US and China.
Furthermore, though talks on Greece’s financial bailout package have yet to be concluded, investors are hoping for a final resolution by next week’s meeting.
Equities markets and riskier currencies had much to gain from this week’s over-all risk-on sentiment while the safe-haven bonds declined.
Furthermore, though talks on Greece’s financial bailout package have yet to be concluded, investors are hoping for a final resolution by next week’s meeting.
Equities markets and riskier currencies had much to gain from this week’s over-all risk-on sentiment while the safe-haven bonds declined.
Friday, November 23, 2012
BSP To Open 400 MBOs
This year, the Bangko Sentral ng Pilipinas (BSP) has given its go-signal for the opening of more than 400 micro-banking offices (MBO).
MBOs offer small loans to micro-enterprises and other services similar to regular banks but at a smaller capital requirement.
Given that almost 40% of municipalities are still not served by banks, and around 80% of Filipinos do not have bank accounts, the central bank believes that MBOs would help make financial services more accessible to people in remote areas of the country.
MBOs offer small loans to micro-enterprises and other services similar to regular banks but at a smaller capital requirement.
Given that almost 40% of municipalities are still not served by banks, and around 80% of Filipinos do not have bank accounts, the central bank believes that MBOs would help make financial services more accessible to people in remote areas of the country.
Thursday, November 22, 2012
Best Walmart Black Friday Deals Under $10
Walmart is proving to be the best place to shop as more retail stores are releasing their Black Friday sales. Below are the most popular Black Friday Deals in Walmart that are under $10.
The list comes from our online survey where we asked consumers which among the Walmart items on sale they'd most likely buy.
The results are below, and after comparing these products for price matches in Best Buy and Target, looks like the Walmart Black Friday 2012 is going to be a profitable one.
The list comes from our online survey where we asked consumers which among the Walmart items on sale they'd most likely buy.
The results are below, and after comparing these products for price matches in Best Buy and Target, looks like the Walmart Black Friday 2012 is going to be a profitable one.
EDC Makes a Turnaround in Income
Energy Development Corp. (EDC) posted a net income of Php8.57 billion in the first nine months of the year which is a significant turnaround from the Php488 million net loss incurred in the same period a year ago.
The company said that subsidiaries Green Core Geothermal Inc. (GCGI) and First Gen Hydro Power Corp. (FGHPC) provided huge contributions as these registered net incomes of Php2.16 billion and Php2.77 billion, respectively.
GCGI’s net income came from the operations of the 305-megawatt Tongonan I and Palinpinon power plants while FGHPC drew their income from the sale of electricity and ancillary services from the Pantabangan-Masiway hydroelectric plants.
The company said that subsidiaries Green Core Geothermal Inc. (GCGI) and First Gen Hydro Power Corp. (FGHPC) provided huge contributions as these registered net incomes of Php2.16 billion and Php2.77 billion, respectively.
GCGI’s net income came from the operations of the 305-megawatt Tongonan I and Palinpinon power plants while FGHPC drew their income from the sale of electricity and ancillary services from the Pantabangan-Masiway hydroelectric plants.
Tuesday, November 20, 2012
List of Black Friday 2012 Store Opening Hours
When it comes to Black Friday shopping, aside from having that list, it's likewise important to know which store to buy them and at what time.
That's why we've compiled below the list of Black Friday 2012 store opening hours to guide you with your route and schedule.
These are the major in-store retailers and their opening time for the biggest shopping weekend of the year. We encourage you to take note of stores which are opening as early as Thanksgiving, and the Black Friday doorbuster sales times as well.
We will update this list as the days come, and please be reminded that these schedule could change so it's always better to confirm with your local store to make sure you won't miss their Black Friday 2012 deals.
That's why we've compiled below the list of Black Friday 2012 store opening hours to guide you with your route and schedule.
These are the major in-store retailers and their opening time for the biggest shopping weekend of the year. We encourage you to take note of stores which are opening as early as Thanksgiving, and the Black Friday doorbuster sales times as well.
We will update this list as the days come, and please be reminded that these schedule could change so it's always better to confirm with your local store to make sure you won't miss their Black Friday 2012 deals.
Local Equities Open The Week High
The local equities market moved marginally higher today as investors digested last week's third quarter corporate earnings releases.
The PSEi gained 10.27 points, or +0.19%, to end the day at 5,449.55. MWC (+3.04%) led index gains following news that Metro Pacific Ventures agreed to buy 39% of its waterworks business in Cebu.
However, gains were overshadowed by JFC, which lost 3.53% after last Friday’s mark-up. Sectoral indices closed mostly positive as financials (+0.44%), industrials (+0.27%), holding firms (+0.42%) and property (+0.16) all ended positively, while services (-0.30%) and mining and oil (-0.64%) ended in the red.
The PSEi gained 10.27 points, or +0.19%, to end the day at 5,449.55. MWC (+3.04%) led index gains following news that Metro Pacific Ventures agreed to buy 39% of its waterworks business in Cebu.
However, gains were overshadowed by JFC, which lost 3.53% after last Friday’s mark-up. Sectoral indices closed mostly positive as financials (+0.44%), industrials (+0.27%), holding firms (+0.42%) and property (+0.16) all ended positively, while services (-0.30%) and mining and oil (-0.64%) ended in the red.
Newman, Chiasson Insider Trading Trial Starts
The insider trading trial of Todd Newman, of Diamondback, and Anthony Chiasson, of Level Global hedge fund, has started and it looks like this case is not your typical insider trading story.
It has become almost a soap opera with Jesse Tortora, the key witness whose been telling tales of trench warfare among hedge funds.
One of the allegations is that Newman arranged for $175,000 to be paid to a stock analyst's wife in exchange for insider information about Dell.
It has become almost a soap opera with Jesse Tortora, the key witness whose been telling tales of trench warfare among hedge funds.
One of the allegations is that Newman arranged for $175,000 to be paid to a stock analyst's wife in exchange for insider information about Dell.
Saturday, November 17, 2012
Walmart Black Friday 2012 Tablet, Desktop and Laptop Deals
One of the best places to shop this Black Friday 2012 is undoubtedly in Walmart. Indeed, the Arkansas-based retailer will again show why they are the world's third largest public corporation by giving Americans some of the best Black Friday deals this year.
Below, are some of the best items on sale in Walmart when it comes to tablet computers, as well as desktops and laptop deals.
The list is what's currently available in Walmart Black Friday 2012 flyers and adscans and they say there could be more items on sale come Thanksgiving.
Walmart is opening its doors as early as 8:00 pm, Thursday night Thanksgiving. So be there early.
Below, are some of the best items on sale in Walmart when it comes to tablet computers, as well as desktops and laptop deals.
The list is what's currently available in Walmart Black Friday 2012 flyers and adscans and they say there could be more items on sale come Thanksgiving.
Walmart is opening its doors as early as 8:00 pm, Thursday night Thanksgiving. So be there early.
Twinkies To Go Out of Stock For Good Soon
Hostess, the company that manufactures the iconic Twinkies and Wonder Bread, is closing business soon.
The Texas-based company has greatly suffered from the nationwide worker strike and has decided to file bankruptcy last Thursday, leaving around 18,500 workers without jobs.
It was a bittersweet Thursday evening at the Schiller Park plant, when one baker came out and started handing checks out to his still working colleagues outside, then one of them said, "This is my last check... I'm on vacation next week."
The Texas-based company has greatly suffered from the nationwide worker strike and has decided to file bankruptcy last Thursday, leaving around 18,500 workers without jobs.
It was a bittersweet Thursday evening at the Schiller Park plant, when one baker came out and started handing checks out to his still working colleagues outside, then one of them said, "This is my last check... I'm on vacation next week."
Apple iPad Mini Logs In Good Sales Figures
Members of Apple's supply chain in Asia has reported that sales figures for the new iPhone 5 and the iPad Mini have been very good and higher than expected.
The report came from Katy Huberty of Morgan Stanley, who stated the report during an investors meeting last Thursday.
"Key suppliers into iPhone and iPad noted above seasonal March quarter order trends, stronger than expected December quarter revenue, and the potential to further upside before year-end," reports Huberty
The report came from Katy Huberty of Morgan Stanley, who stated the report during an investors meeting last Thursday.
"Key suppliers into iPhone and iPad noted above seasonal March quarter order trends, stronger than expected December quarter revenue, and the potential to further upside before year-end," reports Huberty
PAL Cuts Losses
PAL Holdings Inc., the parent company of flag carrier Philippine Airlines (PAL) cut down its losses during the second quarter of its fiscal year, driven by greater passenger volume and reduced expenses.
The company reported a Php609.17 million loss during the second quarter of its fiscal year, which ran from April 1 to March 31. The figure is 63.95% lower than the Php1.69 billion loss registered last year.
For the period, revenues gained 0.67% to Php18.07 billion on the back of increased passenger revenues while expenses decreased by 4.89% to Php18.68 billion as the cost of flight operations went down.
The company reported a Php609.17 million loss during the second quarter of its fiscal year, which ran from April 1 to March 31. The figure is 63.95% lower than the Php1.69 billion loss registered last year.
For the period, revenues gained 0.67% to Php18.07 billion on the back of increased passenger revenues while expenses decreased by 4.89% to Php18.68 billion as the cost of flight operations went down.
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