Philippines - Market factors to watch - Oct 11

October 11, 2011 8:21 am 0 comments

MANILA, Oct 11 (Reuters) - Here are news stories and press
reports which may influence local financial markets on Tuesday: 
    WHAT IS HAPPENING TODAY IN THE PHILIPPINES:
    - Central bank to release money supply and bank lending
growth data for August
    - Cirtek Holdings Philippines Corp to hold investor briefing
ahead of IPO, Fontaine Room, Mandarin Oriental, Makati City,
4:00 p.m. [0800 GMT]	
    REUTERS NEWS - PHILIPPINES
 Philippine army says mining firms need militias
 Philippines offers to buy back $1.5 bln ROPs
 Philippines may sell up to $5.5 bln retail bonds
 15-yr retail bond coupon set at 6.25 pct
 10-yr retail bond coupon set at 5.75 pct
 Philippines may change 2012 rice imports in Nov
 Philippine mkts to close on Oct 31 for holiday  	
    LOCAL PRESS REPORTS
    (Reuters has not verified these stories)
    - Reduced growth assumptions for this year and the next will
likely be missed but the government remains optimistic of modest
growth this year, President Spokesman Ramon Carandang said, with
President Benigno Aquino and his economic managers having agreed
to implement a stimulus programme. (BUSINESSWORLD)
    - Agriculture Secretary Proceso Alcala said the Philippines
will negotiate for lower rice import tariffs in its quest to
extend quantitative restrictions scheduled to expire next year.
(BUSINESSWORLD)
    - Philex Mining Corp said it was looking at
extending the mine life of its Silangan copper and gold prospect
in southern Surigao del Norte province to 40 years from a target
of 25 years. (ALL PAPERS)
    - President Aquino on Monday approved in principle the
proposed stimulus programme for the last quarter of the year for
high impact projects that would help the government retain and
attain its growth targets in 2011 and 2012. (BUSINESSMIRROR)
    - The local auto industry rebounded slightly in September,
with sales improving 1.3 percent from a year ago, but sales for
the first nine months was down 3.5 percent from the same 2010
period. (ALL PAPERS)
    - SM Land Inc, a privately held real estate firm owned by
mall taipan Henry Sy of SM Investments , is expected to
improve its unsolicited offer to develop a 33.1-hectare lot
within the Bonifacio business district owned by state firm Bases
Conversion and Development Authority. (BUSINESSMIRROR)
    - Belle Corp , a gaming and property firm partly
owned by SM Investments, ended slightly higher on Monday after
the company listed 1.51 billion common shares from its recently
concluded stock rights offering that raised 4.5 billion
Philippine pesos ($103.76 million). (BUSINESSMIRROR)
    - Chinatrust Commercial Bank Corp , a unit of
Taiwan's Chinatrust Commercial Bank Ltd. , has asked
that its shares be delisted from the local bourse amid the
Philippine Stock Exchange's recent requirement for firms to
increase their public float to at least 10 percent. (PHILIPPINE
DAILY INQUIRER)
    - The Supreme Court on Monday recalled its final decision
declaring as illegal Philippine Airlines layoff of
1,400 flight attendants in 1998, drawing immediate criticism
from the union. (ALL PAPERS)
    - The National Economic and Development Authority said 18
infrastructure and other projects under the Public Works
department and funded by official development assistance were
problematic, and were classified under priority monitoring and
facilitation. (MANILA TIMES)	
    MARKET NEWS
 SE Asia stocks mostly up on euro zone debt hopes
 Global stocks, oil, euro surge on European pledge
 Oil up 3 pct on euro zone plan, Kuwait export halt
 Gold rises 2 pct in risk rally after EU pledge
 Euro holds huge gains on EU optimism              	
---------------- MARKET SNAPSHOT AT 0015 GMT -----------------  
                 INSTRUMENT     LAST       PCT CHG    NET CHG
 SP 500                 1194.89      3.41       39.43
 USD/JPY                   76.64     -0.03       -0.02
 US 10YR               2.16      4.23        0.09
 SPOT GOLD               1671.54     -0.20       -3.40
 US CRUDE         CLc1          85.34     -0.08       -0.07
 DOW JONES              11433.18      2.97      330.06
 ASIA ADRS               116.82      3.33        3.76
 FTSE 100               5399.00      1.80       95.60
--------------------------------------------------------------  
($1 = 43.4 pesos)
  Pan-Asia...... Japan........ S.Korea....
  S.E. Asia............ Hong Kong... Taiwan.....
  Australia/NZ.........  India....... China..... 	
  OTHER MARKETS:
  Wall Street...........  Gold....... Currency.
  Eurostocks...........  Oil......... JP bonds..
  ADR Report.......... LME metals.. US bonds..
  Stocks News US... Stocks News Europe.. 	
  DIARIES  DATA:
  IPO diary  data  Asia earnings diary
  U.S. earnings diary   European diary
  Wall Street Week Ahead   Eurostocks Week Ahead
  World forecasts    	
  TOP NEWS:
  For top Asian company news, double click on:
  U.S. company news    European company news
  Forex news           Global Economy news
  Technology news     Telecoms news
  Media news         Banking news
  Politics/General news  Asia Macro data
  A multimedia version of Reuters Top News is available at:     
  topnews.session.rservices.com  	
  LIVE PRICES  DATA:
  Philippine stocks          Philippine peso
  Philippine debt          Debt  0#USBMK=
  World Stocks        0#.INDEX    Currency rates
  Dow Jones/NASDAQ     Nikkei
  FTSE 100                  LME price overview  	
 (Reporting by Manila Newsroom)

© Thomson Reuters 2011 All rights reserved

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