September 1, 2011 / 12:40 AM / 6 years ago

Philippines - Market factors to watch - Sept 1

5 Min Read

 MANILA, Sept 1 (Reuters) - Here are news stories and press
reports which may influence local financial markets on Thursday:
 	
	
 WHAT IS HAPPENING TODAY IN THE PHILIPPINES     	
 - Joint press conference of the Bureau of Internal Revenue
and Department of Justice on the latest Run after Tax Evaders
case, Department of Justice, 11:00 a.m. [0300 GMT]	
 - Senate Sub-Committee on Anti-Money Laundering Law
Amendments holds public hearing, Senator Claro Recto Room, 1:00 
p.m. [0500 GMT]	
 	
 REUTERS NEWS - PHILIPPINES	
> Philippines Q2 GDP growth slows, rates seen steady 	
> Philippines,China look beyond sea dispute at trade 	
> Aquino calls on China to invest in the Philippines 	
> Philippine 7-yr T-bond fetches avg rate 4.936 pct 	
> Manila's Greenergy eyes $1.3 bln power JV         	
 ?	
 LOCAL PRESS REPORTS      	
 (Reuters has not verified these stories)     	
 - The Bureau of Internal Revenue has tightened the rules
governing improperly accumulated earnings tax to ensure that
corporations declare their incomes and distribute dividends to
shareholders. (BUSINESSWORLD)	
 - Restaurant chain operator Pancake House signed a
deal to buy pizza chain Yellow Cab Foods Corp for 800 million
pesos, beefing up its casual dining business and diversifying
its product lines. (ALL PAPERS)	
 - Smart communications, a unit of Philippine Long Distance
Telephone Co , will start offering the Netphone on Sept.
10, a move that will allow the wireless leader to hike Internet
access across a broader market segment. (THE PHILIPPINE STAR)	
 - The central bank's foreign exchange swaps totaled $15.9
billion at the end of July, slightly higher than the previous
month's $15.73 billion, central bank data showed. (MANILA
BULLETIN)	
 - Ayala Land Inc said its board approved the
creation of a fifth residential brand that will cater to the
socialised housing market. Ayala Land said South Maya would
offer mainly house and lot packages with prices no exceeding
400,000 pesos a unit. (MANILA STANDARD TODAY, THE MANILA TIMES,
BUSINESSMIRROR)	
 - The damage caused by Typhoon Nanmadol on the farm sector
has risen to 1.24 billion pesos, with rice crops the hardest
hit, the Department of Agriculture said. (THE MANILA TIMES)	
 	
 MARKET NEWS  	
> Asian shares likely to be cautious                	
> Global stocks end up, paring Aug loss;commods rise 	
> Gold down but off lows on soft US data, Fed hopes 	
> US crude ends shade lower, monthly decline sharp  	
> Dollar falls to 1-1/2 week low against the yen    	
 	
---------------- MARKET SNAPSHOT AT 2325 GMT ---------------    
  	
              INSTRUMENT     LAST       PCT CHG    NET CHG 	
 S&P 500               1218.89      0.49         5.97
 USD/JPY                 76.73      0.09         0.07
 US 10YR             2.23     -0.08         0.00
 SPOT GOLD             1825.54      0.12         2.24
 US CRUDE       CLc1          88.74     -0.08        -0.07
 DOW JONES            11613.53      0.46        53.58
 ASIA ADRS             125.70      1.43         1.77
 FTSE 100             5394.53      2.39       125.87
	
  --------------------------------------------------------------	
  ($1 = 42.28 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  <0#USBMK=>  
 	
  World Stocks        <0#.INDEX>    Currency rates  
 	
  Dow Jones/NASDAQ     Nikkei              
 	
  FTSE 100                  LME price overview  	
	
 (Reporting by Manila Newsroom)	
 

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