Latest Stories

PH market posts 29th all-time high

MANILA, Philippines—The local stock market on Monday posted a new all-time high—the 29th this year—as a rosy outlook for 2013 alongside banking merger and acquisition (M&A) talks kept investor sentiment buoyant.

The main-share Philippine Stock Exchange index jumped 27.08 points, or 0.49 percent, to a record finish of 5,579.42. The index also hit a new record intraday high of 5,585.09.

The upswing continued to be led by banking stocks, which perked up the financial index by 1.62 percent.

JP Morgan Securities Philippines Inc. executive director Gilbert Lopez said investors were positioning ahead of an upbeat 2013 but noted that a big factor behind the PSEi’s surge to record highs was banking M&A excitement.

“People regard the merger as something positive but they are kind of moving ahead because a merger is not sure yet,” Lopez said. In the end, Lopez said he believed it was still BPI that was most likely to forge a deal to take over PNB given that the Ayala-led bank was trading at a much higher price-to-earnings multiple compared to either Banco de Oro Unibank or Metropolitan Bank and Trust Co.

For the Lucio Tan Group, Lopez added that once the conglomerate has been restructured by the first quarter of 2013, it would be more attractive to investors if the shares to be sold by LTG under a follow-on offering factored in a bank exposure that would be under a BPI entity than under PNB.—Doris C. Dumlao

Click for prices of stocks

Follow Us

Follow us on Facebook Follow on Twitter Follow on Twitter

Recent Stories:

Complete stories on our Digital Edition newsstand for tablets, netbooks and mobile phones; 14-issue free trial. About to step out? Get breaking alerts on your mobile.phone. Text ON INQ BREAKING to 4467, for Globe, Smart and Sun subscribers in the Philippines.

Tags: Philippine Stock Exchange , Philippines , Stock Activity , Stock Market , stocks

  • NoWorryBHappy

    I am telling you.
    Sinasabi ko na sa inyo: 5600 by the end 2012.
    12,000 by the end of President Noynoy’s term.
    Let’s set our goal high so that if we attain 10,000, it is still a far better achivevment.
    Kudos to our President and the Filipino people !

  • Sleeping_Drag0n

    This is good news for the country indeed. Hope that the effect of this positive business sentiment be felt by every Juan.

  • http://pulse.yahoo.com/_EDXEVEFHW2ZT5VWHDWBNM6XGE4 RyanE

    The peso has appreciated too much, with both positive and negative effects. Positive for imports but negative for exports and OFWs.

  • robrano

    Rosy outlook? For whom? The few rich or the poor masa? Maybe it needs a rosy eyeglass? Or are the foreseeable billions for election manipulation or vote buying the reason, like at every election? Then it is a very shortliving rosy outlook

    • ofwme2807

      financial analyst???do you know anything about economics???rosy outlook shortlived??hahaha its the story all year round now and one more did you not read its the 29th record for the year and yet its still shortlived?the PSEI is one of the best performers in Asia if not in the world…Do you know how much foreign buying now made in the market…wag mg comment kung walang alam para wag magmukhang mangmang hahaha

    • willbillywilly

      Instead of making criticizing your expertise, why not concentrate on your business so you too can enjoy the upbeat mood of the businessmen

Copyright © 2014, .
To subscribe to the Philippine Daily Inquirer newspaper in the Philippines, call +63 2 896-6000 for Metro Manila and Metro Cebu or email your subscription request here.
Factual errors? Contact the Philippine Daily Inquirer's day desk. Believe this article violates journalistic ethics? Contact the Inquirer's Reader's Advocate. Or write The Readers' Advocate:
c/o Philippine Daily Inquirer Chino Roces Avenue corner Yague and Mascardo Streets, Makati City, Metro Manila, Philippines Or fax nos. +63 2 8974793 to 94


  • US teacher fired over comment on black president
  • Magnitude-7.5 earthquake shakes Mexican capital
  • Title of new Hillary Clinton book: ‘Hard Choices’
  • Filipinos, Dutch re-enact crucifixion of Christ
  • 14 killed in car bombing in Homs
  • Sports

  • Nadal ousted by Ferrer in Monte Carlo quarters
  • Pacquiao shorts in Bradley fight sold for P1.7M in LA auction
  • Ryu pitches Dodgers past Giants
  • Alonso sets the pace in Chinese GP practice
  • Heat seek Three-peat but Spurs, Pacers top seeds
  • Lifestyle

  • Levine designs womenswear with help from fiancee
  • Gabriel Garcia Marquez, Nobel laureate, dies at 87
  • Ford Mustang turns 50 atop Empire State Building
  • Pro visual artists, lensmen to judge Pagcor’s photo contest
  • ‘Labahita a la bacalao’
  • Entertainment

  • Myx TV premieres Asian American ‘docu-series’
  • A nutty finale for ‘Scandal,’ TV’s craziest show
  • EXO postpones release of mini album ‘Overdose’
  • ‘X-men’ filmmaker slams ‘fabricated’ sex attack claims
  • Singer Chris Brown’s bodyguard on trial in DC
  • Business

  • US commerce secretary spells out economic facet of ‘pivot to Asia’
  • Italy sells luxury state cars on eBay
  • Asian shares mostly up in quiet trade
  • Dollar up in Asia on US jobs data, Ukraine deal
  • Barbie doll has a problem
  • Technology

  • Nasa’s moon-orbiting robot crashes down
  • Netizens pay respects to Gabriel Garcia Marquez
  • Nokia recalls 30,000 chargers for Lumia 2520 tablet
  • Facebook rolls out ‘nearby friends’ feature
  • Netizens seethe over Aquino’s ‘sacrifice’ message
  • Opinion

  • Editorial cartoon, April 17, 2014
  • A humbler Church
  • Deepest darkness
  • ‘Agnihotra’ for Earth’s health
  • It’s the Holy Week, time to think of others
  • Global Nation

  • Las Vegas ‘Pinoy Pride’ fest hails Filipino heritage
  • Marking Jesus’ journey on Good Friday
  • Filipina accomplice arrested for fake bills in Malaysia
  • DoH denies Filipino nurse no longer positive for MERS virus
  • WHO warns vs spread of MERS-Cov, urges vigilance in taking precautions
  • Marketplace