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MANILA, Philippines -- The rosters of both the San Miguel Beernen and the Meralco Bolts for the upcoming East Asia Super League (EASL) are slowly taking shape, with the international tourney about to kick off next month.
The PSEi gained 1.15% yesterday to close at 7,025 [link] and finish the day in the 7000s for the first time since Feb. 6, 2023. The pump was broadly based, with all industry groups finishing in the green, led by Property (+1.4%), Services (+1.3%), and Holding Companies (+1.2%). Foreign players were net buyers for the 9th consecutive trading day; foreign buyers have outpaced foreign sellers on 24 of the past 25 trading days stretching back to July 29. In that time, foreign investors have added P11.2 billion in investments in PSE companies.
Global Ferronickel [FNI 1.25 unch; 11% avgVol] [link] announced that its board of directors approved a buyback program to purchase up to 2% of its outstanding shares on the open market over the next three years. FNI said that it will use “internally generated funds” to make the purchases and that this “initiative is part of the company’s ongoing commitment to enhance shareholder value and reflects the Board’s confidence in the company’s long-term growth prospects.” FNI has 5,125,175,687 outstanding shares trading at P1.25/share at yesterday’s close, so it would take FNI P128 million to complete the full buyback of 102.5 million shares at the current market price.
MANILA, Philippines -- The Magnolia Hotshots survived the gritty Terrafirma Dyip, 99-98, in a cardiac PBA Governors’ Cup matchup Thursday night at the Ninoy Aquino Stadium in Manila.
BEIJING – China will “crush” any foreign incursion into its sovereign territory including in the South China Sea, a senior Beijing military official said yesterday on the sidelines of a defense forum.
KANSAS CITY, Mo. (AP) — Kansas City Chiefs quarterback Patrick Mahomes said Wednesday he will not endorse either Donald Trump or Kamala Harris, even as the former president continued to call Mahomes’ wife, Brittany, a supporter of his campaign.
MANILA, Philippines — Drink mix brand Tang is releasing a new juice variant with zero sugar, instead filled with a natural sweetener, stevia.
CAPE CANAVERAL, Fla. (AP) — A tech billionaire performed the first private spacewalk hundreds of miles above Earth on Thursday, a high-risk endeavor reserved for professional astronauts — until now.