Businessman Lester Yu’s Balai ni Fruitas, the bakery and beverage arm of listed Fruitas Holdings, closed in the red on its trading debut on Thursday amid a general market selloff. Balai ended the session down 7.14 percent to P0.65 versus its initial public offering (IPO) price of P0.70 per share. The company rose as much as 18.6 percent earlier in the session but was … [Read more...] about Balai ni Fruitas debuts amid market selloff
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PSEi dives as inflation concerns welcome Bongbong Marcos
The benchmark Philippine Stock Exchange Index (PSEi) surrendered most of the gains over the past four sessions on Thursday after Finance Secretary Benjamin Diokno warned inflation could reach up to 6.5 percent in June. The PSEi fell 2.34 percent, or 147.76 points, to 6,155.43 while the broader All Shares index sank 1.56 percent, or 52.89 points, to 3,336.23. Price increases … [Read more...] about PSEi dives as inflation concerns welcome Bongbong Marcos
Century Pacific sales up as food inflation bites
The publicly listed maker of Century Tuna and Argentina corned beef canned goods said sales were picking up despite a series of price increases due to consumers switching to cheaper and more convenient alternatives as belts tighten during the current inflation surge. Century Pacific Food Inc., which also owns Swift processed meats and the iconic sardines brand, Ligo, was … [Read more...] about Century Pacific sales up as food inflation bites