BusinessWorld
May 13, 2021 | 9:00 pm
COURTESY OF PHILIPPINE STOCK EXCHANGE, INC.
INVESTORS are expected to take their cue from the Bangko Sentral ng Pilipinas’ (BSP) recent policy decision and local economic data as the market reopens today after a one-day break.
The benchmark Philippine Stock Exchange index fell by 90.43 points or 1.42% to close at 6,236.40 on Wednesday. The broader all shares index also declined by 49.96 points or 1.27% to 3,858.
Financial markets were closed on Thursday in observance of the Feast of Ramadan or Eid al-Fitr.
“We may have to see how the market reacts to the BSP’s revision of its inflation forecasts for 2021,” Darren Blaine T. Pangan, trader at Timson Securities, Inc., said in a Viber message on Wednesday.
BusinessWorld
May 6, 2021 | 9:00 pm
PHILIPPINE STAR/ KRIZ JOHN ROSALES
STOCKS continued to decline on Thursday as the possibility of an increased pork tariff rate caused renewed concerns over inflation, dampening market sentiment.
The benchmark Philippine Stock Exchange index (PSEi) declined by 16.91 points or 0.26% to close at 6,282.78 on Thursday, while the broader all shares index lost 2.78 points or 0.07% to end at 3,879.65.
China Bank Securities Corp. Research Associate Jason T. Escartin said market sentiment stayed weak due to the possibility of an increase in pork tariffs, “which may fan inflation concerns anew.”
“While the compromise agreement between local hog raisers and government is likely to hurt short-run market sentiment due to its impact on inflation expectations, we think this reduces the uncertainty around a sharper policy reversal in [the second half of the year],” Mr. Escartin said via e-mail.
BusinessWorld
May 7, 2021 | 12:10 am
Keren Concepcion G. Valmonte
MONDE Nissin Corp. has set the final price of its maiden offering to P13.50, around 23% lower than the P17.50 ceiling declared in its registration statement after receiving advisory from its banking partners.
“Upon the recommendation and after consultation with the joint global coordinators and joint bookrunners, the offer price for the initial public offering of Monde Nissin Corp.’s common shares has been fixed at P13.50 per common share,” the company said in a disclosure on Thursday.
The Lucky Me! noodles manufacturer initially said it would offer 3.6 billion common shares, with an overallotment option of up to 540 million shares.
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