PSE Market Summary:
The Philippine Stocks Market was down for three consecutive trades to close at 5,394.90. Trades reached 26,169 with 117 stocks declining from yesterday. 50 stocks advanced while 36 remained unchanged.
PX Assures Resumption of Its Operations
Philex Mining Corporation (PSE:PX) assured the public that operations from its Padcal, Benguet mine will eventually be resumed on a conservative estimate of six to twelve months. The DENR suspended the mining operations due to sediment leaks caused by heavy rains in the past months.
CEB On-Time Flights Reach A New High
Cebu Pacific Air, Inc (PSE:CEB) reached a record 92.5% on departures within 15 minutes of schedules time for September 2012. This was significantly higher than the 85.7% recorded same period last year. Other Asian carriers achieved 72.6% on average.
RFM Target to Sell Swift
RFM Corporation (PSE:RFM) expects to seal a deal to for the sales of its swift meat operations. Discussion are still ongoing and no definitive date was set.