1 week Ago
Here’s a recap of last week’s (ending April 25) market activity from First Metro Securities. Filinvest Development Corp. (FDC) has approved P1.
21 billion in cash dividends, equivalent to P0.14027 per share, reflecting a 36 percent increase from the previous year. The hike follows strong 2024 financial results, with consolidated net income rising by 29 percent to P15.
7 billion, driven by robust performance across its business units. Income status. Despite facing setbacks in poverty and hunger reduction efforts amid pandemic disruptions and climate-related challenges, the Philippines remains optimistic about achieving upper middle-income country status by next year, according to National Economic and Development Authority (Neda) Secretary Arsenio Balisacan.
Tariffs. In a related development, Trade Secretary Ma. Cristina Roque is set to visit the United States from April 29 to May 2 to negotiate adjustments to a new 17 percent tariff imposed on Philippine exports under President Donald Trump’s trade policies.
The Philippine Stock Exchange Index (PSEi) surged by 110.27 points, or 1.79 percent, to end Friday’s session at 6,268.
75—marking its largest single-day gain in nearly three weeks. Trading turnover was robust at P6.36 billion.
The rally mirrored strong overnight cues from Wall Street, buoyed by upbeat corporate earnings reports, easing trade concerns, and renewed bets on a sooner-than-expected U.S. Federal Reserve rate cut.
Locally, bargain-hunting activities also helped boost sentiment. Gains were broad-based across sectors, led by Holdings (+2.31 percent), Property (+1.
83 percent), and Services (+1.50 percent). Market breadth was positive, with 117 advancers outpacing 79 decliners.
Notable outperformers included Bloomberry Resorts Corp. (+18.89 percent), Universal Robina Corp.
(+7.76 percent), and Puregold Price Club Inc. (+6.
37 percent). Meanwhile, Manila Electric Co. (-1.
52 percent), Converge ICT Solutions Inc. (-0.92 percent), and AREIT Inc.
(-0.25 percent) lagged behind. Net foreign inflows amounted to P352.
79 million, reversing recent outflows. Subscribe to our daily newsletter By providing an email address. I agree to the Terms of Use and acknowledge that I have read the Privacy Policy .
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