PH stocks rise for 4th straight day in Holy Week bargain-hunt
By Doris Dumlao
Local stocks gained ground for the fourth straight session on Tuesday, on the back of Holy Week bargain-hunting alongside some quarter-end window-dressing.
Local stocks gained ground for the fourth straight session on Tuesday, on the back of Holy Week bargain-hunting alongside some quarter-end window-dressing.
Yuchengco-led Rizal Commercial Banking Corp. is getting a fresh capital infusion of at least $100 million from the International Finance Corp., the private sector arm of the World Bank Group.
The main local stocks index closed at a new record high of 5,832.83 in thin post-Christmas trade on Wednesday, marking its 38th record close for 2012.
Gotianun-led East West Bank has raised P1.53 billion from its initial issuance of long-term high-yielding deposits, an initiative meant to boost the bank’s liability management.
San Miguel Corp. has completed a landmark P80-billion capital-raising activity after a month-long sale of preferred shares that targeted retail investors seeking higher yields in a low-interest rate environment.
Most local stocks slumped for a third session on Thursday, dragging the main index below 5,300, after a weak China factory output indicator dampened sentiment across the region.
Most local stocks slumped for a second session in thin trading on Wednesday, tracking a regional downturn ahead of a crucial European Central Bank meeting and the release of US payrolls data.
First Metro Investment Corp., the investment house of the Metrobank group, has launched a retail bond offering of up to P5 billion in a bid to stretch out its funding base.
A banker and a business analyst said they got what they wanted to hear from President Aquino’s State of the Nation Address, or Sona, on Monday, when it came to establishing an economic environment hospitable to fresh investments.
Stocks firmed up on Tuesday after a sluggish morning trade as investors remained awash in cash and eager to embark on selective buying.
The local stock barometer skyrocketed by 2.27 percent Friday to close at a new historic high of 5,145.89 as a string of favorable US and local economic data kept the bulls surging.
Most local stocks tumbled sharply on Monday, dragging the main stock index below 4,800, as investors scrambled to pocket gains after the strong run-up since the start of the year.
