Philippine Stock Market Updates: April 30, 2012

Philippine Stock Exchange Index

 

The main-share Philippine Stock Exchange gained 33.65 points, or 0.65 percent, to close at 5,202.70. The index is thus now moving closer to the all-time high closing of 5,218.96 and intra-day peak of 5,247.14 posted last April 26.

By sector, the property index was the day’s outperformer (+1.2 percent) boosted by expectations of further monetary easing in the United States. Only the mining/oil index ended in the red, succumbing to further profit-taking after last week’s excitement that the Sampaguita gas discovery could be bigger than the reserves of Malampaya. Read More >>>

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  • P73-M kickback for Urban execs? MANILA, Philippines – Former officials of the defunct Urban Bank, predecessor of the now also shuttered Export and Industry Bank (EIB), have been accused of pocketing P73 million in the sale of an 8,628-square meter property in Pasay City in 1994. Accu…
  • Filinvest posts 4% hike in 2011 income FILINVEST Development Corp. (FDC) reported higher earnings for 2011 led by gains from its core real estate and banking units, a Philippine Stock Exchange (PSE) filing on Monday showed. FDC said net income last year reached P3.69 billion, up 3.6 percent…
  • ‘Magnum’ boosts RFM first-quarter earnings FOOD and beverage firm RFM Corp. said first-quarter earnings jumped by close to a third on easing commodity costs and the introduction of new products such as the Magnum ice cream in March. RFM said in a filing to the Philippine Stock Exchange that net…
  • Bank IPO oversubscribed EAST WEST Banking Corp.’s initial public offering (IPO) was more than three times oversubscribed, with demand strong as the stock market continued to reach new peaks, an underwriter said. “ was 3.4 times oversubscribed among TPs (trading partic…
  • San Miguel is still on buying binge MANILA, Philippines – San Miguel Corp. is still on an acquisition mode, after securing a deal to buy almost half of Philippine Airlines. In a disclosure to the stock exchange, San Miguel said: “The company is exploring and evaluating opportunities for …
  • SEC approves Rockwell listing The Securities and Exchange Commission has approved the stock exchange listing of property developer Rockwell Land Corp. by way of introduction, or without an initial public offering, following a property dividend distribution to shareholders of parent fi…
  • Maibarara Leasing Batangas Land From NPC For Its Geothermal Project Maibarara Geothermal, Inc. is leasing two lots in Sto. Tomas, Batangas from the government to be used in the steam field operations of the Maibarara Geothermal Power Project. In a disclosure to the Philippine Stock Exchange, the MGI parent company Petr…
  • PSE OK’s Calata IPO plan Calata Corp., being pitched to investors as an “emerging leader in Philippine agricultural industry,” is all set to become the third company to debut on the local stock exchange this year. The Philippine Stock Exchange board has approved Calata’s initi…

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