“More fun at 6,000.”
Traders and brokers at the Philippine Stock Exchange (PSE) carried signs carrying that message yesterday and the market followed.
Philippine stocks closed at another all-time high yesterday, up 1.73% from the previous day’s trading, ending at 6,044.91. This is the first time in local stocks history that the 6,000-level was reached.
The Philippine stock market registered one of the highest gains worldwide in 2012, ending with a full-year return of 32.95%. This earned the Philippines the 9th spot, out of a hundred countries, in terms of stock market performance based on preliminary data from Bloomberg.
The 32.95% return means if you invested in the Philippine Stock Exchange index (PSEi) from the start of the year, your P100,000 would now be worth P132,950.
Those expecting to make a huge profit from the initial public offering of D&L Industries (stock code: DNL) might have to wait longer, after the DNL stock fizzled in the local stock market weeks after its IPO.
Twelve (12) publicly-listed companies have only two remaining trading days to comply with the local stock exchange’s rule on minimum public ownership (MPO); otherwise, their stock will face trading suspension effective next week.
Despite a formal request from some companies to extend the deadline, the Philippine Stock Exchange (PSE) stood ground and reiterated its deadline of December 31, 2012 for publicly-traded firms to meet the required 10% public float level.
Here is an update to our article on the top stocks in the Philippines with the highest dividend payout in 2011. Last year, we wrote about companies traded on the Philippine Stock Exchange (PSE) that do not only provide income through price appreciation but also through dividend income.
As we have mentioned before, investors must also consider the dividends paid by companies when computing one’s potential income. Most newbie investors seem to be too concerned on capital appreciation that the dividend component of a stock is forgotten.
With just three weeks remaining until the deadline set by the Philippine Stock Exchange, twenty-five (25) publicly-listed firms remain in danger of being delisted from the local bourse for failing to meet the rule on minimum public ownership.
Back in June 2012, at least 27 companies have been reported to have not met the 10% public float requirement and were given until December 31, 2012 to comply. (See: PSE to delist 27 firms if 10% Public Float rule not met)
Buoyed by the country’s unexpected 7.1% GDP growth, Philippine stocks ended yesterday at another all-time high, closing at 5,633.72, up 0.85% from the previous day’s trading.
A new intra-day high of 5,636.33 was also recorded yesterday.
In what is regarded as the final initial public offering (IPO) of the year, colorants, chemicals, and additives maker D&L Industries will issue to the public 1.071 million common shares, to be completed before the end of the year.
Each share is priced at P4.30 and the company expects to receive up to P4.6 billion from the said offering.
The D&L stock will start trading on December 12. The stock code will be DNL.
