Philippine stocks: Gainers, losers, market-moving news – December 2021

All 29 passengers and 4 crew members are safe, says Philippine Airines.

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Meralco rates increase as deferred costs from the November bill due to the Malampaya shutdown are now collected.

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San Miguel Corporation affiliate Bank of Commerce is seeking to raise P3.5 billion through an initial public offering (IPO) to fund its lending activities and capital expenditure requirements.

The Securities and Exchange Commission said Bank of Commerce seeks to offer 280.6 million common shares at an offer price of up to P12.50 per share.

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Shares of Medilines Distributors plunged by 30% in its debut on the Philippine Stock Exchange (PSE) on Tuesday, December 7, the worst in recent trading history.

From Medilines’ initial public offering (IPO) price of P2.30 apiece, its shares opened 13% lower, then hit the floor price of P1.61.

More on that here.

The number of Filipinos with no jobs amid the coronavirus pandemic stood at 3.5 million in October, the Philippine Statistics Authority reported on Tuesday, December 7.

This is equivalent to an unemployment rate of 7.4%, lower than the 8.9% in September, and the third lowest reported in 2021.

But the underemployment rate rose. Read more.

Inflation eased to 4.2% in November amid a slower rise in food prices, the Philippine Statistics Authority reported on Tuesday, December 7.

While the latest figure is slower than the 4.6% registered in October, it is also above the government’s target range of 2% to 4%.

Here’s the full story.