Philippines - Market factors to watch - Jan 19

Wed Jan 18, 2012 8:07pm EST

MANILA, Jan 19 (Reuters) - Here are news stories and
press reports which may influence local financial markets on
Thursday:	
    	
    WHAT IS HAPPENING TODAY IN THE PHILIPPINES:	
    - Foreign Correspondents Association of the Philippines
holds "Prospects for the Philippines" conference with Vice
President Jejomar Binay as keynote speaker and Asian Development
Bank Vice President Stephen Groff and Budget Secretary Florencio
Abad as guest speakers, Mandarin Oriental, Makati City 9:00 a.m.
to 12 noon [0100-0400 GMT]	
    - Philippine central bank holds policy-setting meeting;
Decision expected to be announced around 4:00 p.m. [0800 GMT]	
    - BSP to release BOP data for December 2011	
    	
    REUTERS NEWS - PHILIPPINES	
> Central bank says policy adjustment needed  	
> PASAR copper operations shut after fire     	
> 2012 coconut oil exports to rise 12.3 pct   	
> Nido Petroleum unit gets SC 58 extension     	
    	
    LOCAL PRESS REPORTS	
    (Reuters has not verified these stories)	
    - The volume of corporate debts listed on the fixed-income
bourse rose by a tenth to reach nearly 200 billion pesos ($4.6
billion) last year, and is expected to further increase as more
companies tap the local debt market for financing this year, an
official of the Philippine Dealing & Exchange Corp said.
(BUSINESSWORLD)	
    - The government could turn to the debt market this quarter
for state-owned Power Sector Assets and Liabilities Management
Corp, Finance Undersecretary Rosilia de Leon said.
(BUSINESSWORLD)	
    - GMA Network Inc hopes to book around 3 billion
pesos in profits this year, about 67 percent more than its
expected 1.8 billion pesos net income for 2011, and the company
is "for sale for the right price," its chairman and chief
executive officer said. (ALL PAPERS)	
    - Global oil prices are expected to continue rising if only
because demand continues to grow and global stockpiles have
started to reach their peaks while supplies still in the market
worldwide are starting to enter the "depletion mode," Energy
Secretary Jose Rene Almendras said. (PHILIPPINE DAILY INQUIRER)	
    - The power generation unit of San Miguel Corp 
could proceed with its initial public offering within this
quarter should market conditions remain favourable, San Miguel
president Ramon Ang said. (BUSINESSMIRROR)	
    - Investors sold down shares of refining giant Petron Corp
 with its stock falling nearly 15 percent after the
company said its employee retirement fund was selling 695.3
million common shares for 7.65 billion pesos. (THE PHILIPPINE
STAR)
    - Locators in the Philippine Economic Zone Authority will
receive 1.2 billion pesos per year in power subsidies as part of
the government's thrust to provide cheaper electricity rates to
big investors. (THE PHILIPPINE STAR)	
    	
    MARKET NEWS	
> SE Asia Stocks-Indonesia up after rating upgrades 	
> Stocks, euro rally on relief over Goldman, IMF    	
> Oil falls as weak demand outlook trumps IMF hopes 	
> Euro enjoys short squeeze; Aussie eyes jobs data  	
> Gold rises for 3rd day on euro, equities gains    	
        	
----------------- MARKET SNAPSHOT AT 0003 GMT ---------------   	
                   INSTRUMENT    LAST    PCT CHG     NET CHG	
 S&P 500                 1308.04      1.11%    14.370 	
 USD/JPY                 76.78       -0.01%    -0.010 	
 10-YR US TSY YLD   1.8948          --    -0.004 	
 SPOT GOLD               1659.59      0.01%     0.130 	
 US CRUDE                101.5        0.90%     0.910 	
 DOW JONES               12578.95     0.78%     96.88 	
 ASIA ADRS              120.13       1.37%      1.62	
-------------------------------------------------------------  	
    ($1 = 43.4 pesos)	
  Pan-Asia...... Japan........ S.Korea.... 	
  S.E. Asia............ Hong Kong... Taiwan..... 	
  Australia/NZ.........  India....... China..... 	
    	
  OTHER MARKETS:	
  Wall Street...........  Gold....... Currency. 	
  Eurostocks...........  Oil......... JP bonds.. 	
  ADR Report.......... LME metals.. US bonds.. 	
  Stocks News US... Stocks News Europe.. 	
    	
  DIARIES & DATA:	
  IPO diary & data  Asia earnings diary 	
  U.S. earnings diary   European diary     	
  Wall Street Week Ahead   Eurostocks Week Ahead 	
  World forecasts   	
    	
  TOP NEWS:	
  For top Asian company news, double click on:        	
  U.S. company news    European company news 	
  Forex news           Global Economy news 	
  Technology news     Telecoms news      	
  Media news         Banking news         	
  Politics/General news  Asia Macro data    	
  A multimedia version of Reuters Top News is available at:	
  topnews.session.rservices.com	
    	
  LIVE PRICES & DATA:	
  Philippine stocks          Philippine peso      	
  Philippine debt          Debt   	
  World Stocks           Currency rates  	
  Dow Jones/NASDAQ     Nikkei              	
  FTSE 100                  LME price overview  	
	
 (Reporting by Manila Newsroom)