March 14, 2012 / 1:21 AM / 5 years ago

Philippines - Market factors to watch - March 14

MANILA, March 14 (Reuters) - Here are news stories and
press reports that could influence local financial markets on
Wednesday:	
    	
    WHAT IS HAPPENING TODAY IN THE PHILIPPINES: 	
    - Agriculture Secretary Proceso Alcala is guest at Food
Security Strategies Forum, Bureau of Soils and Water Management
Convention Hall, Department of Agriculture, Quezon City, 9:00
a.m. [0100 GMT]	
    - Energy Undersecretary Josefina Asirit holds press briefing
on Mindanao power situation, Department of Energy building,
Energy Center, Merritt Road, Fort Bonifacio, Taguig City, 11:30
a.m. [0330 GMT]	
    	
    REUTERS NEWS - PHILIPPINES	
> Philippine exports surprise points to stronger growth
 	
> Philippines' December net FDI inflows down 56 pct y/y
 	
> Philippines 10-yr T-bond fetches avg rate of 5.159 pct
 	
> Manila's anti-graft court orders arrest of Arroyo, 3 others
 	
	
    LOCAL PRESS REPORTS	
    (Reuters has not verified these stories and does not vouch  	
for their accuracy)	
    - Filipino business executives have turned more upbeat about
the country's economic prospects this year and, according to the
head of the Makati Business Club, the Aquino administration's
drive to impeach Chief Justice Renato Corona has contributed
largely to it. (PHILIPPINE DAILY INQUIRER)	
    - British banking giant HSBC denied an overseas report that
it was planning to pull out of the Philippines and a few other
Asian jurisdictions to focus on its "core" markets. (PHILIPPINE
DAILY INQUIRER)	
    - The government spent 722.75 billion pesos ($17 billion) to
service its debts last year, up 5 percent from the previous
year, data from the Bureau of the Treasury showed. (THE
PHILIPPINE STAR)	
    - The country's largest miner Philex Mining Corp is
keen on investing in Myanmar, with talks already ongoing to
explore opportunities there as part of its expansion plans, a
company official said. (THE PHILIPPINE STAR)	
    - Listed IPVG Corp, through its affiliate Conqueror
Space Ltd, has signed a memorandum of understanding with a
Canadian-Chinese firm, allowing it to build and operate mineral
refineries in India. (THE PHILIPPINE STAR)	
    - Green future Innovations Inc of Japan has postponed the
commissioning of a $120-million ethanol and cogeneration
facility in Isabela province to June after last year's typhoons
affected the plant's construction. (MANILA STANDARD TODAY) 	
    	
    MARKET NEWS	
> Short-covering supports Asia FX; wary before Fed  	
> SEAsia Stocks-Mostly higher after choppy sessions 	
> Banks lead US stocks rally; Fed outlook lifts dlr 	
> Gold falls 2 pct as Fed easing hopes fade         	
> Commods gain on econ data,Fed resolve on rates    	
	
 ----------------- MARKET SNAPSHOT AT 0033 GMT ---------------  
 	
                INSTRUMENT     LAST      PCT CHG    NET CHG  	
 S&P 500                      1395.96      1.81        24.87
 USD/JPY                        83.16      0.33         0.27
 US 10YR                         2.12     -0.16         0.00
 SPOT GOLD                    1675.90      0.07         1.15
 US CRUDE                      106.69     -0.01        -0.01
 DOW JONES                   13177.68      1.68       217.97
 ASIA ADRS                     131.56      2.10         2.71
 FTSE 100                     5955.91      1.07        63.16
 	
    	
  ($1=42.66 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; Editing by Paul Tait)

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