15/05/2024
FirstMetro Philippine Morning Highlights - 05/15/24
*PHILIPPINES*
MARKET RECAP: The local bourse traded sideways to close little changed (6608.36, +0.06%) ahead of scheduled local corporate earnings releases and US inflation data. Sectors were mixed with Property (+0.97%), Holdings (+0.56%) and Mining & Oil (+0.56%) leading the gainers. Value turnover reached Php4.7bn with thin net foreign selling at Php158.1mn.
MARKET OUTLOOK: The local equities should move sideways with some upward bias on spillover sentiment from the US. Fed Chair Powell expressed that they do not expect the next interest adjustment to be a hike and offered some measure of comfort despite the “mixed” signals from the higher-than-expected April PPI Data. Market will also digest the MSCI May 2024 Index Review release even as it tries to improve on yesterday’s flattish close. Investor hesitation and tentativeness ahead of the MB Meeting though could still dampen the session's trajectory.
Dow 39,558.11, +0.32%
Nas 16,511.18, +0.75%
S&P500 5,246.68, +0.48%
EPHE 25.78, +0.43%
TEL 25.39, +0.08%, P1,468.56
USD/PHP 57.84, -0.03%
US 10Y 4.438, -5.2bps
PH 10Y 6.8635, +0.34bps
Gold 2,362.50, +0.11%
WTI Oil 78.47, +0.58%
XD:
SEVN: ex-date 5/15 Regular PHP 9.60
COL: ex-date 5/16 Regular PHP 0.0186 Special PHP 0.0465
GSMI: ex-date 5/16 Regular PHP 1.50 Special PHP 1.50
EW: ex-date 5/16 Regular PHP 0.54
RCR: ex-date 5/16 Regular PHP 0.0990
FDC: ex-date 5/17 Regular PHP 0.10346
ACENA: ex-date 5/17 Regular PHP 17.83250
ACENB: ex-date 5/17 Regular PHP 20.00000
CORPORATE NEWS
*CREC: Citicore Renewable Energy Corp. will push through its planned P8-billion initial public offering next month.
Source: Philstar
*MAC: MacroAsia turns its focus on expanding its food segment outside Luzon.
Source: Philstar
*BALAI: Balai ni Fruitas' net income surged by 38% to P13.2 million in the first quarter.
Source: Philstar
*MWC: Manila Water Company Inc. grew its net income by 37% to P3.124 billion in Q1 as a result of a higher tariff coupled with an increase in water usage in its covered areas.
Source: Philstar