Philippines - Market factors to watch - Feb 2

MANILA, Feb 2 (Reuters) - Here are news stories and
press reports which may influence local financial markets on
Thursday:

REUTERS NEWS - PHILIPPINES
> Key political risks to watch in the Philippines

> Gunmen abduct Swiss, Dutch nationals in the south

LOCAL PRESS REPORTS
(Reuters has not verified these stories)
- President Benigno Aquino has certified as urgent a bill
seeking to put more teeth to the country's Anti-Money Laundering
Act as regulators called for tougher measures against the crime.
(PHILIPPINE DAILY INQUIRER)
- Security Bank Corp posted a net profit of 6.7
billion pesos ($155 million) last year, 6.4 percent lower
compared to 2010 when extraordinary trading gains jacked up its
earnings to a record high. (PHILIPPINE DAILY INQUIRER)
- State-run Power Sector Assets and Liabilities Management
Corp said it was filing a $3.4 million claim against Lehman
Brother Special Financing Inc and has hired international law
firm Pinsent Masons to handle its case. (ALL PAPERS)
- Bank lending in the Philippines is expected to grow
another 20 percent this year on the back of rapid development of
more infrastructure projects in the country, according to
international financial services firm JP Morgan Chase & Co.
(PHILIPPINE DAILY INQUIRER)
- Tanduay Distillers Inc, a wholly owned subsidiary of Lucio
Tan-owned Tanduay Holdings Inc, reported a 92 percent
jump in net income last year to 1.1 billion pesos on higher
sales volume and improved selling prices. (THE PHILIPPINE STAR)
- SM Development Corp PS> is eyeing 5 billion pesos
in sales from a new 50-storey residential condominium it is
developing along Taft Ave in Manila. (THE PHILIPPINE STAR)
- The central bank's foreign exchange swaps amounted to
$7.125 billion at the end of 2011, 60 percent of $10.72 billion
lower compared to end-20120's $17.827 billion of forwards and
futures positions of the monetary authority. (MANILA BULLETIN)
- The government is seeking a sharp increase in income tax
payments from the self-employed sector as part of a campaign to
improve tax collection efficiency, the Finance secretary said.
(BUSINESSWORLD, MANILA STANDARD TODAY)
- Unemployment eased to 7 percent in 2011 despite a weaker
economy from 7.3 percent in 2010, the statistics office said.
(BUSINESSWORLD)
- The appelate court has declared illegal the central
bank-mandated closure of Banco Filipino Savings and Mortgage
Bank, saying monetary authorities had overstepped
their authority. (ALL PAPERS)
- Japan's Canon, Inc will be building a laser
printer production plant in the Philippines given an expected
rise in demand, the company said. (BUSINESSWORLD)

MARKET NEWS
> Euro, stocks rally on factory data, Greece hopes
> Brent crude up; China, Iran outweigh US stockbuild
> Gold rises on weaker dollar; near 8-week high

----------------- MARKET SNAPSHOT AT 0040 GMT ---------------
INSTRUMENT LAST PCT CHG NET CHG
S&P 500 1324.09 0.89 11.68
USD/JPY 76.12 -0.13 -0.10
US 10YR 1.85 0.95 0.02
SPOT GOLD 1746.39 0.15 2.69
US CRUDE 97.49 -0.12 -0.12
DOW JONES 12716.46 0.66 83.55
ASIA ADRS 126.38 1.40 1.74
FTSE 100 5790.72 1.92 109.11

($1 = 42.94 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..

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(Reporting by Manila Newsroom)