PSE Market Summary:
The Philippine Stocks Market slightly declined by 2.16 to close at 5,424.51. Total trades were only 22,854 with 87 stocks advances, 75 declines and 48 stocks unchanged.
PX Core Net Income Down 43%
Philex Mining Corporation (PSE:PX) announced its core net income for the nine months of 2012 amounted to P2.26 billion, lower by 43% from P3.975 billion same period last year. The decline was due to the voluntary suspension of its Padcal mine in Benguet caused by heavy rains. PX shares were up by P.04 to close at P15 today.
TDY Completes 100% Acquisition of Lucio Tan's Properties; Issues First Consolidated Report
Lucio Tan Group of Companies, Formerly Tanduay Rhum, Inc. (PSE:TDY) completed 100% acquisition of Tycoon Lucio Tan's equity interests in FortueTobacco Corp; Asia Brewery Inc.; Paramount Land Equities Inc; and Saturn Holdings Inc. TDY also issued its first consolidated report, posting P5.7 billion in net income for the nine months of 2012. TDY closed higher by P.10 to P11.50 today.
SMC Pursues Talks to Acquire Solar
San Miguel Corporation confirmed reports of discussion for possibly acquiring media company Solar Entertainment Corp. No definite agreements have been set as of this date.
ALI Issues P1B Fixed Rate Bonds
Ayala Land, Inc. issued P1 billion worth of its fixed-rate "homestarter bonds". This represents the aggregate P3 billion registered and approved for sale to the public. The bond will carry a coupon rate of 5% per annum with 3 years maturity. ALI stocks closed higher by P.05 to P23.55 today.