PSE Market Summary:
The Philippine Stocks Exchange was up by 21.05 or .41% to close at 5,207.10. All subsectors were up, except Mining & Oil which closed lower by 2.97%. Services (.81%) and Property (.65%) led the advancers.
SEVN Trades Heavy on New Investor Buys
Operator of 7-Eleven convenience stores Philippine Seven Corp. (PSE: SEVN) confirmed extraordinary trades on Monday were due to Ivy League investors buying around 41 million shares. This represents around 12% of the outstanding shares and were bought at about P 2.9 billion.
PLDT Expects to Hit Full Year Target
Telecom Company Philippine Long Distance Telephone Co. (PSE:TEL) expect to reach P9 billion for its 3rd quarter net income. This is in line with their full year target of P 37 billion, as TEL has already generated P18.7 billion for the first half of the year.
IMI Preferred Supplier Status Renewed
Leading global supplier Robert Bosch GmbH has renewed the preferred supplier status of Integrated Micro-Electronics, Inc. (PSE:IMI) for its "superior competence and performance."
AEV Continue to Accumulate on UBP Shares
Aboitiz Equity Ventures, Inc. bought a total of 1,351,130 of Union Bank of the Philippines' shares today at a price range of P 102 and P 104 today. AEV has previously bought UBP shares on various dates as well.