19/03/2021
In a nugget, "pahinga niyo muna buying power ninyo."
**PHILIPPINES**
The PSEi looks set to slip today tracking Wall Street’s decline as market optimism shifts with investors growing concerned of the Fed’s recent policy stance amid the resumed ascent in US Treasury yields. On the local front, yesterday’s COVID-19 case increase beyond the 5,000 mark aggravated by the “alarming” state of COVID bed occupancy rates within Metro Manila may likewise weigh down the already fragile mood in the local bourse.
XD:
GSMI ex-date 03/22; Reg PHP 0.25
NIKL ex-date 03/22; Reg PHP 0.09, Sp PHP 0.14
ICT ex-date 03/25; Reg PHP 2.37
MER ex-date 03/25; Reg PHP 7.824
LTG ex-date 03/26; Reg PHP 0.15, Sp PHP 0.09
PH ECO RELEASE:
Mar 19 - Feb BoP Overall USD (-752 Mn Prior)
Mar 25 - BSP O’nite Borrowing Rate (2.000% Current)
PH NEWS ITEMS:
*C, SM, 2GO: SM is acquiring C's 31.73% stake in 2GO at P8.50/sh. Due to the acquisition, SM will hold a mandatory tender offer for the remaining shares at P8.50/sh. The exchange will impose a 1hr trading halt on 2GO to allow the public to digest the information.
*MG: Increased its authorized capital stock from P250 Mn to P750 Mn divided into 5,000,000,000 common shares with par value of P0.10/sh. CEO Michael Yang will subscribe to the 5,000,000,000 shares at P0.20/sh. Proceeds will be used by subsidiary Millennium Ocean Star for operations and expansion.
*TEL: Is deploying 125,000km of fiber optic cables this year, its highest deployment ever, as it anticipates higher demand for broadband. TEL has the most extensive fiber network in the country with 429,000km of fiber optic cables spread across the islands.