Highlight of the Week: Wall St gains Boost Local Share Prices

Highlights of the Week: News, events and updates that are likely to affect your investments and trades in the Philippines stock market.

MANILA, Philippines - Local share prices barely rose yesterday, posting minimal gains to end higher for the second straight day.

The bellwether Philippine Stock Exchange index slightly rose 0.09 percent or 4.43 points to close at 4,958.43 while the broader all-shares index gained 0.2 percent or 6.45 points to 3,314.49.

MANILA, Philippines - Diversified conglomerate San Miguel Corp. (SMC) said it expects to hit its $20-billion revenue target for 2015 this year on increased contributions from new acquisitions.
“We believe by end of 2012, we will have $20-billion sales revenue,” SMC president Ramon Ang told reporters yesterday.

MANILA, Philippines - Metro Pacific Investments Corp. (MPIC)’s Manuel Pangilinan and San Miguel Corp. (SMC) president Ramon Ang unveiled before President Aquino yesterday the proposed P45-billion project to connect the North and South Luzon Expressways (NLEX and SLEX).

Construction is set to begin late this year.

MANILA, Philippines - More and more consumers are using their credit cards to finance the purchase of goods and services as receivables of banks almost posted a double-digit growth last year, the Bangko Sentral ng Pilipinas (BSP) reported yesterday.

MANILA, Philippines - The government is aiming to tap the cash-rich domestic market by mid-June for up to P30 billion in 10-year bonds for the Power Sector Assets and Liabilities Management Corp. (PSALM), the state agency tasked to manage and dispose the government’s power assets, officials said yesterday.

Finance Undersecretary Rosalia de Leon told The STAR yesterday that the government is considering borrowing an initial tranche of PSALM’s estimated P85-billion funding requirement through the issuance of bonds and continue with the second tranche in the latter part of the year

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