Philippines - Market factors to watch - June 22

Wed Jun 22, 2011 2:09am BST

Quotes

   

 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)