PSEi 7,263.58 +59.47 / +0.83% Val. 10.88B The Philippine Stock Exchange Index rose 59.47 points, closing the day at 7,263.58. The Dow, S&P, and Nasdaq ended up closing -0.05%, -0.15%, and -0.22%, respectively. Market breadth was positive, with winners outnumbering losers, 111 to 67; meanwhile, 49 stocks were left unchanged. a. According to ABS-CBN News, the Supreme Courts Third Division has ruled that the Bases and Conversion and Development Authority (BCDA) has to subject SM Prime Holdings, Inc. (P16.90 / +0.96%) unsolicited proposal for the Bonifacio South property to a Swiss challenge. The SC gave weight to the certification of successful negotiations signed by both BCDA and SMPH last August 6, 2010. The certification showed BCDAs commitment to subject SMPH’s original proposal to competitive challenge and to seek comparative proposals from other interested parties. The Bonifacio South property consists of lands occupied by the Army Support Command and Special Services Unit, the Bonifacio Naval Station and the Marine Corps. SMPH had previously submitted a final proposal for the acquisition and development of the property with payments to the government amounting to P25.9 billion. b. Alliance Global Group, Inc. (P25.80 / +4.67%), Bloomberry Resorts Corporation (P12.54 / +3.64%), JG Summit Holdings, Inc. (P56.30 / +3.40%) led the index winners today.
Posted on: Fri, 05 Sep 2014 08:19:53 +0000
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