ANGELICA BALLESTEROS, TMT

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INVESTORS sold off positions in early trading on Wednesday as the market took a breather after Tuesday’s run-up. At the midday break, the bellwether index was down 88.78 points or 1.13 percent at 7,797.19. The broader All Shares had shed 0.88 percent or 41.82 points to 4,782.32. “After days of a run-up, the market…

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CORPORATE regulators have approved property and construction firm DM Wenceslao and Associates, Inc.’s plan to raise as much as P15.5 billion from an initial public offering (IPO). The Securities and Exchange Commission on Tuesday authorized the firm to issue as much as 679.2 million shares priced at P22.90 apiece with…

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CONSUNJI-LED conglomerate DMCI Holdings, Inc. is spending 19 percent more for its capital expenditure (capex) this year to P40.6 billion to further expand its business. In a news conference in Taguig City on Tuesday, DMCI Holdings Chief Finance Officer Herbert Consunji said a big chunk of the expenditure, equivalent to P16…

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ANDREW Tan-led conglomerate Alliance Global Group, Inc. (AGI) saw flat net income growth in the first three months of 2018 as higher interest charges and unrealized foreign exchange losses weighed on earnings. In a disclosure on Tuesday, Alliance Global said consolidated net profit stood at P5.4 billion, a one percent increase…

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GT Capital Holdings, Inc. saw its consolidated net income in the first three months of 2018 grow at a double-digit rate on higher contributions from its banking, life insurance, and holding company affiliates. GT Capital told the Philippine Stock Exchange on Tuesday that consolidated net income for the first quarter…

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MALLS operator SM Prime Holdings, Inc. posted 15 percent growth in net income in the first quarter of the year, driven by the expansion of its malls and residential businesses. SM Prime told the Philippine Stock Exchange on Monday that net income for the first three months of the year rose to…

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CEMENT manufacturer Holcim Philippines, Inc. said net income in the first three months of the year dropped 25 percent due to higher energy costs and lower cement prices. In a disclosure on Monday, Holcim reported that net income for the period of P700 million, down from the P939.4 million registered a…

SHARES OUTLOOK FOR THE WEEK:

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THE stock market’s direction this week will be influenced by first quarter growth results and the outcome of a Monetary Board meeting scheduled this Thursday, analysts said. “[I]t might already be a foregone conclusion that the BSP (Bangko Sentral ng Pilipinas) will hike rates,” Papa Securities Corp. trader Gio Perez…

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THE Philippine Stock Exchange (PSE) remains hopeful that at least eight initial public offerings will be conducted in 2018 despite the year’s being nearly half over. “We targeted eight, Unfortunately, up to May, wala pa rin (there have been none yet),” PSE President Ramon Monzon told reporters at the sidelines…

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GOTIANUN-LED EastWest Banking Corp. aims to raise P10 billion through the conduct of a stock rights offering (SRO) sometime in the third or fourth quarter of the year. EastWest Bank Chairman Jonathan Gotianun said the bank may conduct an SRO later this year to raise funds for general corporate purposes.…

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