PSE Market Summary:
The Philippine Stocks Market was up for the fourth straight trade, inching higer by 42.31 or .68% to close at 6,234.73. Total trades reached 29,907 with 109 stocks advances, 67 declines and 40 stocks unchanged.
PNX Posts 26% Growth
Phoenix Petroleum Philippines, Inc. (PSE:PNX) posted a 26% growth in revenue to P34.7 billion in 2012 compared to P27.5 billion recorded in 2011. The increase was mainly due to the 26% higher fuel sales volume. PNX's market share also grew from 5.4% to around 6% for 2012.
MEG Sets P35B Capex
Megaworld Corporation (PSE:MEG) sets its 2013 capital expenditure to P35 billion, doubling last year's growth in sales. This was the highest capex allocation for MEG thus far.