The Philippine Stock Exchange Index lost 5.56 points, or 0.07 percent, to 7,485.32 after a three-day holiday to give way to Pope Francis’ visit. Value turnover hit P8 billion, with gainers edging losers, 93 to 85, and 42 issues unchanged. Philippine Long Distance Telephone Co., the biggest telecommunications firm, fell 1.5 percent to P2,950, while Megaworld Corp., the largest lessor of office spaces, dropped 2 percent to P5.28. Vista Land & Lifescapes Inc. of former senator Manuel Villar declined 2.7 percent to P6.41, while Nickel Asia Corp., the nickel miner, slipped 1.1 percent to P31.20. Metro Pacific Investments Corp., which is into toll roads, water and electricity distribution, and hospitals, dropped 2.9 percent to P5, while Energy Development Corp., the biggest producer of stream energy, decreased 3.7 percent to P8.63. Metropolitan Bank & Trust Co., the second-largest lender, rose 2.2 percent to P91.40, while SM Prime Holdings Inc. of retail tycoon Henry Sy surged 4.9 percent to P18.78. SM Prime held a soft opening of SM Zibo, its sixth mall in China in the last quarter of 2014. SM Tainjin, which will be the group’s seventh and biggest mall in China, is also on track with its opening slated in the latter part of 2015. SM Zibo will add 154,000 square meters of leasable space to SM Prime’s total area, while SM Tianjin will offer 540,000 sq. m. GT Capital Holdings Inc. of tycoon George Ty, which is into banking, property, automotive and power generation, gained 2.4 percent to P1,130, while Manila Electric Co., the biggest electrcity retailer, advanced 2.6 percent to P274. The rest of Asian stock markets mostly rose Monday following a rally on Wall Street and a strong pick-up in oil prices. The euro continued to struggle against the dollar and yen before this week’s European Central Bank meeting that is expected to unveil a vast bond-buying scheme to kickstart the eurozone economy. Tokyo rose 0.89 percent, or 150.13 points to 17,014.29, Sydney gained 0.19 percent, or 9.86 points, to 5,309.1 and Seoul closed 0.77 percent higher, adding 14.49 points to 1,902.62.
Posted on: Mon, 19 Jan 2015 22:41:49 +0000
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