Philippine Stock Exchange: Market Updates – December 27, 2013

PH Market Summary
PH Equities traded and closed higher, gaining 23.44 points or 0.40% to close at 5,878.32 despite the post-Christmas holiday mood of the market participants. The PSEi remained on green pasture as market participants re-positioned in the expectation of the traditional year-end window dressing which effectively buoyed Philippine equities.

Gainers led decliners 76 to 68 while 45 issues were left unchanged. Financial and Holding Firms sectors closed lower, declining by 0.09% and 0.12%, respectively. All other sectors closed on green territory. Notable gainers were the newly-listed LRW with a 700% gain from P0.08 to P0.64 per share; I and MARC followed with 16% and 10.19% gains per share, respectively. On the other hand, significant decliners were ALPHA which lost by 18.44% skidding to P23 from the previous close of P28.20, while ION and LSC succumbed to lose 14.67% and 14.19% per share, respectively.

Value turnover decreased to P3.46 billion from P5.26 billion last Monday which is mainly attributable to the tepid post-Christmas trading in the market. Foreigners were net sellers, disposing of P55.3 million worth of shares.

URC : URC posts net income of P10-B for FY’13
As for the unaudited and preliminary figures released, Universal Robina Corporation (PSE:URC) disclosed a net income of P10.01 billion for its fiscal year ending September 2013. The said figure was 29.4% higher than the net income the company reported the same period last year. The increase was attributed to the strong gains of its domestic branded food operations, particularly the beverage division, which banked P42.2 billion in sales beating the industry’s reported growth of 20%.

ALPHA : ALPHA to sell Alphaland Tower
After the deal with Philippine Long Distance Telephone Company (PSE:TEL) to buy the Alphaland Tower in Makati for P8 billion ran aground, Alphaland Corporation (PSE:ALPHA) revealed that it is now back in the process of negotiation with several foreign companies from Singapore and Malaysia to sell the 34-storey building along Ayala Avenue. Alphaland Tower, which has a gross floor area of 48,000 square meters, is back to its original selling ptoce of P8.5 to P8.6 billion.

MCP : MCP Unit taps MCE Investments for US$340-M loan
Melco Crown (Philippines) Resorts Corporation (PSE:MCP) dislcosed that its MCE (Philippines) Investments Limited, MCP’s wholly-owned indirect subsidiary, has entered into a loan agreement with MCE Leisure (Philippines) Corporation as borrower. MCP, MCE Holdings (Philippines) Corporation, and MCE Holdings No.2 (Philippines) Corporation serve as guarantors of the US$340 million transaction. The term loan facility aims to provide back-up in the unlikely event that MCE Leisure (Philippine) Corporation’s senior notes offering consisting of P15 billion aggregate principal amount of 5% senior notes due 2019, which was priced on 19 December 2013, will not be completed.

RCB : RCB prepaid P4-B debt due 2019
Rizal Commercial Banking Corporation (PSE:RCB) has fully paid its P4 billion 7.75% Unsecured Subordinated Notes eligible as Lower Tier 2 Capital due 2019, pursuant to the exercise of its Early Redemption Option on the sad notes.

Inflation seen to hit a two-year record high in December 2013
The Bangko Sentral ng Pilipinas (BSP) Governor Amando M. Tetangco, Jr. said that BSP projects inflation to settle between 3.8% to 4.7%, the highest since January 2012. The fast acceleration of inflation was mainly attributed to the rising power, fuel, and food prices in the market that followed the wake of the disasters caused by super-typhoon Yolanda and the 7.2-magnitude earthquake that shook the provinces of Bohol and Cebu.

Philippine Stock Exchange (PSE)

Leave a Reply