The Philippine Stock Exchange index saw its biggest pullback since entering bull market territory last week, dropping 2.1 percent to 7,272.65 as investors booked profits ahead of the release of inflation data.
The Consunji Group has received approval from the Philippine Competition Commission to acquire Cemex Holdings Philippines, moving the group closer to acquiring the country’s fourth-largest cement company by the end of 2024.
Philippine stocks surged to a two-month high, buoyed by dovish signals from the US Federal Reserve and the possibility of a Bangko Sentral ng Pilipinas rate cut later this year.
Foreign activity is significant but not the only factor in stock picking; earnings prospects and attractive prices are key, according to AP Securities.
More than four years on, and we are still seeing the aftershocks of the changes brought about by the COVID-19 pandemic. Just as people fled the crowded national capital region when the nationwide lockdown was implemented, we now continue to see a shift in demand to regions outside of NCR.
Robinsons Retail Holdings, Inc. is approaching the completion of its multi-year P7-billion share buyback program after a series of transactions last Friday, the company told the Philippine Stock Exchange.
Aboitiz Equity Ventures Inc. (AEV) executed a P3.7 billion share buyback last Friday, acquiring 806,400 of its own shares, the company told the Philippine Stock Exchange in a disclosure.
The day before Independence Day, the PSE index closed at 6,410.07, 367.91 pts or 5.4 percent below where it was on the same day ten years ago. AP Securities says it might be time for investors to start returning to the market.