News Flash

October 07, 2015, Wednesday
  • A Filipino & 4 foreign crew members were on board the yatch ‘Europa’ when it went missing during the height of storm ‘Kabayan.’ 5 hours ago |
  • PCG suspects the missing yatch ‘Europa’ heading to Vigan last week may have sunk in the South China Sea. 5 hours ago |
  • Sen. Bongbong Marcos says his mother has always wanted him to be president since he was 3 years old. 5 hours ago |
  • Fmr. First Lady Imelda Marcos is dismayed that Sen. Marcos is eyeing the vice presidency. 5 hours ago |
  • DOJ forms a panel to investigate the INC leaders who had allegedly detained Ex-Min. Isaias Samson & his family. 5 hours ago |
  • GPH Peace Panel Head Miriam Coronel-Ferrer hopes Congress can tackle BBL before the APEC meeting in Nov. 5 hours ago |
  • MILF Chief Peace Negotiator Mohagher Iqbal urges Pres. Aquino to certify as urgent the measure on proposed BBL. 5 hours ago |
  • Duterte will reportedly announce on Saturday his decision on whether or not he will run for president. 6 hours ago |
  • Vice President Jejomar Binay to announce his running mate on Friday. 6 hours ago |
  • MMDA Chairman Francis Tolentino resigns from his post. 6 hours ago |
  • Former Senator Joker Arroyo passes away at 88 in the United States. 11 hours ago |
  • Senate session hall can’t be used for Binay-related probe as it is being used for budget hearings. 11 hours ago |
  • 25th Senate hearing on allegations vs. Binay won’t push through on Thurs. allegedly due to lack of venue. 11 hours ago |
  • Gabriela party-list files a resolution seeking a House probe on alleged use of women as sex objects at LP event in Laguna. 11 hours ago |
  • Fatalities due to tropical storm ‘Kabayan’ rises to 4. 11 hours ago |
  • Postponement of Ex-Chief Justice Corona’s case at Court of Tax Appeals’ 2nd division is due to the TRO issued by CTA en banc. 12 hours ago |
  • Fmr. Chief Justice Renato Corona’s arraignment at Court of Tax Appeals postponed anew & reset to Dec. 9, 2015. 12 hours ago |
  • Sen. Bongbong Marcos says a vice president should be able to work with any president even if they have conflicting views. 12 hours ago |
  • Sen. Bongbong Marcos says he will announce his candidate for president on Saturday. 12 hours ago |
  • Sarangani Rep. Manny Pacquiao considers running as an independent senatorial candidate. 12 hours ago |
  • Over 250 dengue cases reported in Albay since January this year. 12 hours ago |
  • 10 of 14 victims in collision of 2 vans along Macapagal Blvd. taken to San Juan De Dios Hospital in Pasay City. 12 hours ago |
  • 14 injured in a collision between an armored van & a ‘colorum’ Urvan van along Macapagal Blvd. in Paranaque City. 13 hours ago |
  • Sarangani Rep. Manny Pacquiao to retire from boxing if he will win as senator. 13 hours ago |
  • Tolentino says sorry to LP, Roxas, Rep. Agarao, women’s groups & his own mother who was offended by the lewd dance number. 13 hours ago |
  • Tolentino says as the highest official present during the LP event, he failed to stop the indecent performance of the girl group on stage. 13 hours ago |
  • Tolentino asks for understanding & apologizes to everyone he offended when he failed to stop the girl group’s lewd dance in Laguna. 13 hours ago |
  • Tolentino asks LP to remove him from its senatorial line-up. 13 hours ago |
  • Violation of Magna Carta of Women & Code of Conduct & Ethical Standards filed vs. Tolentino at Ombudsman. 13 hours ago |
  • Labor groups sue MMDA Chairman Francis Tolentino over a girl group’s lewd dance at LP event. 14 hours ago |

Stock market seen sustaining uptrend

By Jenniffer B. Austria | Apr. 29, 2013 at 12:01am
Share prices are expected to sustain the upward trend this week on bright prospects both here and abroad, according to analysts.

Accord Capital Equities Corp. trader Justino Calaycay said the market might test the latest all-time high level after Moody’s Analytics labeled the country as the region’s “rising star” last week.

“The recent branding of the Philippines as a ‘rising star’ convinces onlookers even more that the future for the domestic economy at large and for equities in particular shows an ability to withstand the risks introduced by and challenges confronting the global economy,” Calaycay said.

Calaycay said Moody’s Analytics’ positive outlook on the economy would raise the country’s hope for a second investment grade rating, after the one given by Fitch Ratings last month.

Moody’s Analytics is a sister company of debt watcher Moody’s Investors Service.

The recent move of the Bangko Sentral to reduce rates it pays on special deposit accounts will also make the local equities market more attractive, analysts said.

Calaycay said while the market was ripe for technical correction, the dip would likely come after the earnings season.

Analysts said a big correction could also invite heavy and more aggressive buying from investors.

The Philippine Stock Exchange index breached the 7,000-point level anew last week, closing at 7.025.44 on Friday, as the market welcomed the new round of SDA rate cut.

SDA are fixed-term deposits of banks and their trust departments with the central bank, with maturities of one week, two weeks and one month. This is the third time SDA rates were cut, following reductions of 50 basis points each in January and March.

Value turnover at the local stock market reached P9.6 billion with 30 more stocks posting advances than those that declined.

“Minus the block sales, the value turnover reached P9.3 billion, an improvement of the last couple of days but still a tad lower than the averages that pushed the market to previous record highs,” Calaycay said.

The Bangko Sentral kept overnight policy rates unchanged at 3.5 percent and 5.5 percent for borrowing and lending, respectively.

However, the rate on SDAs was further reduced by 50 basis points to 2 percent across all tenors.

SDA rates were reduced by an aggregate 150 basis points over the past 12 months as the Bangko Sentral sought to push funds toward the real economy to support the growth momentum.
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