Market Summary:
The Philippine Stocks index climbed by 20.10 or .39% to close at 5,195.72. The increase was led by Financials (.71%) and Services (.58%). Only Mining and Oil closed lower (.82%) for all sub-indices. There were 17,761 trades for the day with total value of 4.2 trillion.
RCBC to Include PLDT Notes in Portfolio
Financial service company Rizal Commercial Banking Corporation approved in its directors' meeting today investment in Philippine Long Distance Company's (PLDT) corporate note issue for the regular trust and management account it maintains. This means that said security will be included in the basket of funds the company manages.
PAL Buys 54 Airbus Aircraft
Aircraft carrier Philippine Airlines confirmed report of ordering 54 airbus aircraft to fuel planned revitalization and capitalize growth in tourism in the country. The purchase had a list price of $7 billion.
URC In Talks of Expansion
Retail and consumer business Universal Robina Corp. (URC) remain in negotiations to expand its sugar division by way of local acquisition. The deal, though relatively small in value, is projected to help improve margins and market share.