SHARES dropped on profit taking after the release of full-year 2022 Philippine gross domestic product (GDP) and trade data. The benchmark Philippine Stock Exchange index (PSEi) went down by 38.66 points or 0.54% to close at 7,042.70 on Thursday, while the broader all shares index lost 9.87 points or 0.26% to end at 3,692.89. “The […]
Tag: thursday
Shares decline on recession fears, profit taking
SHARES dropped on Thursday on profit taking as sentiment was dampened by recession fears and Wall Street’s decline. The benchmark Philippine Stock Exchange index (PSEi) went down by 32.85 points or 0.46% to close at 7,062.01 on Thursday, while the broader all shares index inched down by 5.83 points or 0.15% to end at 3,686.68. […]
PSEi climbs on rate hike bets ahead of US CPI
STOCKS climbed on Thursday ahead of the release of the December US consumer price index (CPI) report overnight, which investors expect to be a key consideration at the US Federal Reserve’s policy meeting later this month, and following comments from the Bangko Sentral ng Pilipinas (BSP) chief. The bellwether Philippine Stock Exchange index (PSEi) rose […]
Pfizer to scale down early-stage rare disease research
US pharma giant Pfizer Inc. said on Thursday it is planning to realign its early-stage research into treatments for rare diseases and oncology, to focus on areas like rare and benign hematology. Pfizer will also move away from having a rare disease research unit to align important rare disease programs to areas across its research units. “We are refocusing our approach to early discovery and development research in rare disease and oncology,” a spokesperson said in a statement to Reuters, adding that the company will explore externalization […]
Stocks rise on slower-than-expected inflation
STOCKS continued to rally on Thursday as December inflation came in below market expectations despite picking up from the November level. The 30-member Philippine Stock Exchange index (PSEi) went up by 42.83 points or 0.63% to close at 6,761.33 on Thursday, while the broader all shares index added 13.38 points or 0.37% to end at […]
Peso rebounds on Dec. inflation data, Fed minutes
THE PESO rebounded against the dollar on Thursday on slower-than-expected December inflation and following the release of the minutes of the US central bank’s meeting last month. The local currency closed at P55.75 versus the greenback, up by 16 centavos from Wednesday’s finish of P55.91, data from the Bankers Association of the Philippines showed. The […]
Main index ends flat ahead of key economic data
THE MAIN INDEX closed almost flat on Thursday after Wall Street declined and on window dressing as investors wait for the release of key economic data. The bellwether Philippine Stock Exchange index (PSEi) inched down by 0.15 point to close at 6,566.39 on Thursday, while the broader all shares index rose by 12.71 points or […]
PSEi extends rally as US consumer confidence rises
PHILIPPINE stocks extended their rally on Thursday after US consumer confidence rose to an eight-month high in December just before the holidays. The bellwether Philippine Stock Exchange index (PSEi) climbed by 56.14 points or 0.86% to close at 6,576.94 on Thursday, while the broader all-shares index rose by 22.43 points or 0.65% to 3,442.26. “Seasonal […]
Twitter suspends several journalists, Musk cites ‘doxxing’ of his jet
Twitter on Thursday suspended the accounts of several prominent journalists who recently wrote about its new owner Elon Musk, with the billionaire tweeting that rules banning the publishing of personal information applied to all, including journalists. Responding to a Tweet on the account suspensions, Mr. Musk, who has described himself as a free speech absolutist, […]
Stocks fall as Fed chief hints at more rate hikes
SHARES closed lower on Thursday after the US Federal Reserve chief said more rate hikes are needed to rein in elevated inflation. The bellwether Philippine Stock Exchange index (PSEi) lost 48.27 points or 0.73% to close at 6,566.80 on Thursday, while the broader all shares index declined by 18.68 points or 0.54% to 3,430.89. “Share […]
US House panel chair says she’ll subpoena FTX’s Bankman-Fried if needed
House Financial Services Committee Chairwoman Maxine Waters told Reuters on Thursday that she is prepared to subpoena FTX founder Sam Bankman–Fried if he does not agree to appear before the panel next week and she is working out the best way to do it. “We’ve made it clear that we want Sam at our hearing on Dec. 13. If he does not cooperate, […]
PSEi drops on profit taking, inflation worries
SHARES closed lower on Thursday on profit taking amid hints of slower rate hikes from the US Federal Reserve and inflation concerns. The benchmark Philippine Stock Exchange index (PSEi) lost 45.79 points or 0.67% to end at 6,734.99 on Thursday, while the broader all shares index declined by 12.95 points or 0.36% to 3,501.03. “Local […]
Peso rises further on Fed minutes
THE PESO climbed further against the dollar as minutes of the US central bank’s latest meeting showed policy makers favored a dovish pivot. — BW FILE PHOTO THE PESO continued to strengthen against the dollar on Thursday amid signals of less aggressive tightening by the US Federal Reserve and on data showing the Philippines saw […]
PSEi ends higher as Fed minutes fuel dovish bets
PHILIPPINE SHARES extended their gains on Thursday after the release of the minutes of US Federal Reserve’s November meeting, which fueled bets that the central bank will consider slower rate hikes moving ahead. The Philippine Stock Exchange index (PSEi) went up by 20.19 points or 0.31% to close at 6,530.51 on Thursday, while the broader […]
Peso inches lower vs the dollar
THE PESO moved sideways against the dollar on Thursday after the central bank delivered an aggressive rate increase to rein in rising inflation. — BW FILE PHOTO THE PESO moved sideways against the dollar on Thursday as the Bangko Sentral ng Pilipinas (BSP) delivered a widely expected 75-basis-point (bp) rate increase to fight inflation. The […]
Stocks rise as investors get bullish on economy
PHILIPPINE STOCKS inched higher on Thursday as investors were optimistic that the economy can absorb monetary tightening after the central bank delivered another large rate hike. The Philippine Stock Exchange index (PSEi) went up by 11.65 points or 0.18% to 6,403.74 on Thursday, while the broader all shares index rose by 12.30 points or 0.36% […]
Musk warns of Twitter bankruptcy as more senior executives quit
Twitter Inc.’s new owner Elon Musk on Thursday raised the possibility of the social media platform going bankrupt, capping a chaotic day that included a warning from a US privacy regulator and the exit of the company’s trust and safety leader. The billionaire on his first mass call with employees said that he could not […]
PHL shares decline as Fed delivers big rate hike
SHARES declined on Thursday after the US Federal Reserve delivered another jumbo rate hike, with the Bangko Sentral ng Pilipinas (BSP) expected to match the move at its own meeting this month. The Philippine Stock Exchange index (PSEi) went down by 50.13 points or 0.8% to end at 6,156.11 on Thursday, while the broader all […]
Peso drops further after Fed tightening
THE PESO weakened further against the dollar on Thursday after the US Federal Reserve delivered a fourth straight 75-basis-point (bp) rate increase to rein in inflation. The local unit closed at P58.80 versus the greenback on Thursday, shedding 33 centavos from its P58.47 finish on Wednesday, data from the Bankers Association of the Philippines showed. […]
Stocks surge on strong peso, narrower deficit
PHILIPPINE STOCKS surged on Thursday as the peso continued to recover against the dollar and as the government’s fiscal deficit narrowed in September. The benchmark Philippine Stock Exchange index (PSEi) rose by 109.05 points or 1.78% to close at 6,230.58 on Thursday, while the broader all shares index gained 39.11 points or 1.2% to finish […]