Trader's Logbook

Manila, Philippines -  Philippine stocks continued to decline yesterday due to a lack of market-moving news in the local front, analysts said. The Philippine Stock Exchange index (PSEi) gave up another 31.18 points to settle at 5,189.37. A total of 2.40 billion shares worth P4.70 billion changed hands at yesterday’s trading. Market breadth was negative [...]

Disclosure of CALATA today In compliance with the Philippine Stock Exchange (“Exchange”) Revised Disclosure Rules, please be advised that in Calata Corporation’s (“The Company”) Board of Directors Meeting held on July 19, 2012, the following matters were discussed and approved: a. Minutes of the last Board of Directors meeting; b. Setting the close of business [...]

Manila, Philippines – Shopping mall giant SM Prime Holdings Inc. will open today SM City San Fernando, its 44th shopping mall in the country which will add some 42,625 square meters of space to total gross leasable area. The seven-storey SM City San Fernando is SM Prime’s third mall in the province, after SM City Pampanga [...]

MANILA, Philippines – Listed fruit and vegetable grower AgriNurture Inc. (ANI) said it failed to clinch a deal to take over bakeshop-restaurant chain Sugarhouse. “After conducting the legal, tax and financial due diligence, the parties failed to reach an agreement on the proposed acquisition of all the tangible and intangible assets pertaining to the operation [...]

MANILA, Philippines – Following the failure of the Association of Southeast Asian Nations (ASEAN) to issue a common statement regarding China’s activities in the West Philippine Sea (South China Sea), foreign and Filipino experts believe that the Philippines may not be able to get the help it expects from its neighbors to resolve the dispute. [...]

Empire East Land Holdings Inc. (ELI) has signed a joint venture agreement with Okada Group, Tiger Resort Leisure and Entertainment Inc. and Eagle 1 Landholdings Inc. to take the lead with a majority stake in the development of a 12.95-hectare luxury residential resort condominium project in Entertainment City Manila. The high-end project will comprise more [...]

Revenues decline by 1.3% in the 1H12. According to NIKL, revenues in the 1H12 declined by 1.3% to Php5.05Bil, representing 45.2% of COL estimates. While total ore sold increased by 19% to 5.02Mil WMT, average selling price to Japan fell to US$8.60/lb as opposed to US$11.48/lb last year. Prices to China increased to US$25.87/WMT compared [...]

Completes Php6.5Bil equity placement. PGOLD’s top shareholder, Lucio Co, sold 250Mil common shares at Php26.0/sh for a total of Php6.5Bil. This was an 8.5% discount from the previous day’s close of Php28.4/sh, and 9.0% of total outstanding shares. The transaction will boost the public free float from 23% to 32% in line with the public [...]

RLC offers to run Tiger Resorts project. John Gokongwei Jr. is reportedly in talks to join Okada’s Tiger Resorts project in Entertainment City. Sources in the stock market said RLC has offered to run the gaming and retail operations of the US$2-Bil project. RLC would be joined by Megaworld, which would handle the land development [...]

Manila, Philippines – Puregold Price Club Inc. , the country’s second largest grocery retailer, raised P6.5 billion from an overnight placement of shares, resulting in the increase of its public float to 32 percent. In a disclosure to the Philippine Stock Exchange, Puregold said it completed a secondary offering of 250 million common shares owned by the family [...]

It would have been a good day if its Monday today as the DOW and other markets are posing a good rebound. This will fuel the sentiment of PSE traders to be more bullish.                 NEW YORK (MarketWatch) — U.S. stocks rose sharply Friday, lifting the Dow industrials [...]

MANILA – Foreigners flocked to the local equities market, as the Philippine Stock Exchange index rose by a fifth, making it Asia’s biggest gainer in the first half of the year. Preliminary data from the local bourse showed that foreign investors were net buyers of Philippine listed stocks in the amount of P71.12 billion, 382.30 [...]

CALATA Corp., a listed agribusiness firm, is expected bring in Israeli technology as it expands into fruits and vegetables following a recent meeting between its executives and Israeli Ambassador Menashe Bar On. “It was agreed that the Israeli government shall fully support Calata Corp. in its objective and agreed to explore the possibility of bringing [...]

Manila, Philippines –  The country’s gross international reserves stood at $76.283 billion as of end June, according to data from the Bangko Sentral ng Pilipinas (BSP). This was a slight increase over the end-May foreign reserves of $76.082 billion. “The increase in the reserves level was due mainly to inflows from the central bank’s income [...]

Manila, Philippines –  Despite its posturing in the West Philippine Sea (South China Sea), China will eventually settle for joint exploration in areas over which it is squabbling with some of its smaller neighbors including the Philippines, Sen. Miriam Defensor-Santiago said yesterday. Santiago said it has always been China’s tack to avoid direct confrontation with [...]

Palace keeps details of EO 79 until  Monday President  Benigno Aquino III has signed Executive Order No. 79 spelling out his administration’s policy on mining and will present it on Monday, a Palace source said Friday. Presidential Communications Secretary Ramon Carandang would not confirm the signing of the much-awaited policy, but he acknowledged that the [...]