May 7, 2013 0
Global markets experienced a number of ups and downs this week amid a volley of economic data and corporate earnings releases.
Sentiment was mostly positive nearing the end of the week, however, as the European Central Bank announced a 25 basis point cut on policy rates so as to further help the Euro-zone’s ailing economy.
Apr 24, 2013 0
Manila Electric Co. (Meralco) posted a 19.3% growth in its net income during the first quarter to Php4.024 billion from Php3.373 billion registered in the same period a year ago.
The income growth was mainly attributed to lower costs and expenses which fell by 3% to Php59.147 billion from Php60.998 billion given the lower power purchase costs as well operating and maintenance expenses.
Apr 24, 2013 0
The local equities market breached the historical 7,000 level for the first time yesterday on expectations of strong 1Q13 corporate earnings and speculations of a further SDA rate cut this coming Thursday, during the Monetary Board meeting.
The PSEi rallied 163.38 points, or +2.35%, to close at 7,120.48, its 27th all-time high for the year. Almost all sectoral indices ended higher led by holding firms (+3.71%), financials (+2.83%) and property (+2.61%), except for services (-0.36%) which ended lower.
