PHStocks

Manila—(PHStocks)—Philippine stocks skyrocketed to new highs on Thursday, February 28, after two successive days of declines. The Philippine Stock Exchange index (PSEi) recovered its losses and, buoyed by the surge by BDO Unibank Inc. (PSE: BDO) and SM Investments Corporation (SMIC, PSE: SM) , regained its foothold in the 6,700 level  and closed today’s trading at new record high 6,721.45, up by 1.59% or 105.18pts. All counters were up as well, led by the Financials…

Manila—(PHStocks)—In just seven weeks, the Philippine capital market has grown from strength to strength. The Philippine Stock Exchange index (PSEi), in fact, has been achieving record upon record levels. After reaching the 6,000 points last month, the blue-chip-stocks index went on to hit 6,500 this week, despite a series of profit taking, reflecting the continuing investor confidence in the macroeconomic fundamentals in the country. The increase in infrastructure spending, the…

Manila—(PHStocks)—Philippine stocks closed nearly flat at the first trading day of the Year of the Water Snake, but not before touching 6,500 during the session. The Philippine Stock Exchange index (PSEi) went down by 0.01% or 0.66pts to 6,458.01 – a situation considered by many investors as a “correction” in the market. On a sectoral basis, only the Services and Property indices went down, while the Mining and Oil segment…

Manila–(PHStock)–Local shares ended the week on a positive note, recovering from a three-day poor performance, on optimism of a possible bailout deal in Greece next week. The mainboard Philippine Stock Exchange index (PSEi) closed at 4,880.71, up by 2.03% from last week, and 20 points shy of breaching the 4,900-point mark. The week of 13-17 February, however, had several setbacks. From a 4,802.03 close on 13 February, the PSEi dived…

Manila—(PHStocks)—One may think that the Valentine’s Day is also felt in the local stock market today as shares went back in red (pun intended). The market sentiment could actually be attributed to Moody’s credit ratings downgrades for several countries in the eurozone, including Italy, Portugal and Spain, Slovakia, Slovenia and Malta. France, Britain and Austria, meanwhile, received a “negative” outlook. These recent developments came on the heels of yesterday’s news…