Philippines - Market factors to watch - June 22

MANILA, June 22 (Reuters) - Here are news stories and press
reports which may influence local financial markets on
Wednesday:

WHAT IS HAPPENING TODAY IN THE PHILIPPINES, ALL TIMES LOCAL
FOLLOWED BY GMT:

- Asian Development Bank, USAID and the World Resources
Institute host 6th Asia Clean Energy Forum, ADB Auditorium, 6
ADB Avenue, Mandaluyong City, 9:00 a.m. to 12:30 p.m. [0100 to
0430 GMT]

- Shang Properties, Inc. to hold annual stockholders'
meeting, Edsa Shangri-La Hotel, No. 1 Garden Way, Ortigas
Center, Mandaluyong city, 9:00 a.m. (0100 GMT)

- Chinatrust (Phils.) Commercial Bank Corporation holds
annual stockholders' meeting, South A & B Rooms, 25th Floor
Tower One & Exchange Plaza, Ayala Triangle, Ayala Avenue corner
Paseo de Roxas, Makati City, 9:30 a.m. (0130 GMT)

- Keppel Philippines Marine, Inc. holds annual meeting of
stockholders, Dasmarinas and Magallanes Room, Makati Sports
Club, L.P. Leviste corner Gallardo Streets, Salcedo Village,
Makati City, 11:30 a.m. (0330 GMT)

- Aboitiz Transport System Corporation holds annual
stockholders' meeting, 11th Floor Function Room (Penthouse),
Midas Hotel, 2702 Roxas Boulevard, Pasay City, 3:00 p.m. (0730
GMT)

REUTERS NEWS - PHILIPPINES
> High court: Ruling on San Miguel stake final
> Manila plans less debt, higher revenues in 2012
> Philippines to launch debt swap next wk-official
> Manila's EDC signs $175 mln syndicated loan deal

LOCAL PRESS REPORTS

- The bid and award for the operation and management
contract of the existing Light Rail Transit 1 and Metro Rail
Transit 3 had been deferred at a later date from an original
schedule of July 11 to give incoming Transportation secretary to
assume his new post on July 1 and review the proposals of 16
bidders vying for the contract. (BUSINESSMIRROR)

- The group of businessman and stockbroker Jerry Angping is
acquiring a near-majority stake in AGP Industrial Corp ,
a listed but moribund holding firm undergoing rehabilitation.
(BUSINESSMIRROR)

- Trans-Asia Oil and Energy Development Corp , the
power unit of the Phinma group, is looking for partners for new
projects, including its coal-fired power plant south of the
capital and proposed wind power plants in the central province
of Guimaras, a top official said. (BUSINESSMIRROR)

- Property developer Megaworld Corp said it would
spend 25 billion Philippine pesos ($575 million)for its capital
expenditures this year. (THE PHILIPPINE STAR)

- Philippine Long Distance Telephone Co is prepared
to extend an end-June deadline to close a deal to purchase rival
firm Digital Telecommunications Inc as government
regulators still have to finish a review. (BUSINESSWORLD)

- Banco de Oro Unibank and Security Bank Corp
have expressed interest in taking over Philippine Bank
of Communications , which is currently selling a
controlling stake to a new investor. (PHILIPPINE DAILY INQUIRER)

- The planned $2.3 billion power generation portfolio of
Manila Electric Co will not be derailed even if the
utility is only allowed to collect lower-than-planned charges
for distribution, supply and metering over the next four years.
(PHILIPPINE DAILY INQUIRER)

MARKET NEWS
> Asian shares to gain,Greek vote bolsters optimism
> World stocks rally, euro gains on Greece hopes
> Gold holds gains as Greek crisis bubbles
> Oil falls on Spain concerns, spread sell off
> Euro off highs after Greek vote, Fed in focus

----------------- MARKET SNAPSHOT AT 0050 MT ----------------

INSTRUMENT LAST PCT CHG NET CHG
S&P 500 1295.52 1.34 17.16
USD/JPY 80.26 0.02 0.02
US 10YR 2.99 0.24 0.01
SPOT GOLD 1545.66 -0.05 -0.79
US CRUDE CLc1 93.88 -0.31 -0.29
DOW JONES 12190.01 0.91 109.63
ASIA ADRS 133.57 1.75 2.30
FTSE 100 5775.31 1.44 81.92
-----------------------------------------------------------

($1 = 43.5 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: [nTOPEQA
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)