PinoyStockMarket.com » Philippine Stock Exchange

PSE restores requirement for listed firms

admin — Sat, 30 Jan 2010 14:36:17 +0000

The Philippine Stock Exchange (PSE) board of directors has approved the reinstatement of the rule requiring listed and listing applicant firms to meet a minimum 10 percent public float to maintain their listing status with the Exchange.

The Minimum Public Ownership (MPO) rule has passed through various debates across the terms of various boards of directors of the PSE until 2005 when the rule was revoked as a continuing listing requirement and instead imposed as a requirement only for initial listing and backdoor listing applications.

The MPO rule is in line with the Capital Market Development Plan Action which aims to provide a fair and efficient facility for price discovery and to ensure that sufficient liquidity exists.

The proposed new rule will be disseminated to the public through the PSE website (www.pse.com.ph) for public comments before it is transmitted to the Securities and Exchange Commission for approval. (mb.com.ph)

Local stocks close higher

admin — Thu, 19 Nov 2009 14:19:45 +0000

The Philippine market closed to its highest level on Thursday after Philex Mining Corp. and Manila Electric Co. (Meralco) returned to the limelight.

The bellwether Philippine Stock Exchange index rose by one percent or 30.69 points to close at 3,083.30 on Thursday, while the all share index rallied by 0.67 percent or 12.91 points to 1, 919.19.

Trading on Philex and Meralco, which accounted for 19 percent of the market’s transaction, pushed the local market to hit a 20- month high.

Trading was within average where some 2.36 billion shares valued at 3.06 billion pesos (65.5 million U.S. dollars) changed hands. Foreign investors remain consistent at the buying side with 142 million pesos (3.040 million U.S. dollars).

All six counters climbed, led by mining and oil shares which again went up by 4.91 percent or 519.40 points to 11,082.63. The issue was again pulled up by Philex which climbed by 8.19 percent to 16.50 pesos (0.35 U.S. dollar).

Market breadth, however, remains negative where 60 issues declined, 55 gained and 60 shares did not move.

Philippine shares close lower

admin — Mon, 13 Jul 2009 06:19:09 +0000

Local share prices closed 0.154 percent lower on Monday as weakness in the US market deterred local investors, dealers said.

The composite index fell 3.83 points to 2,483.39 while the all-shares index slipped 0.15 percent to 1,594.65. There were 44 losers as compared to 42 gainers and 57 unchanged.

Mining & Oil continues to soar with 0.494 and a total value of 5,941.77. Services came in second with 0.3713 percent growth and a total value of 5,941.77.

A total of 1.3 billion shares worth P2 billion changed hands.