Philippine stocks: Gainers, losers, market-moving news – February 2022

Citicore Energy REIT (CREIT) was the most actively traded stock on Tuesday, February 22, jumping 11.4% on its debut at the Philippine Stock Exchange (PSE).

The first renewable energy real estate investment trust raised P6.4 billion through an initial public offering (IPO).

“The high level of interest among investors for both REITs and renewable energy companies obviously contributed to the brisk demand in the shares of CREIT. The oversubscription by the local small investors in this IPO tells us that they are optimistic about the company’s prospects,” said PSE president and chief executive officer Ramon Monzon.

CREIT’s listing raised the total market capitalization of REITs to nearly P300 billion. Philippine REITs now constitute 1.4% of the country’s gross domestic product, according to Finance Secretary Carlos Dominguez III.

SM Prime Holdings saw a 21% growth in its net income in 2021, as mobility restrictions eased and more people flocked to malls.

In a stock exchange filing on Monday, February 21, SM Prime reported a net income of P21.8 billion in 2021, higher than the P18 billion in 2020.

Details here.

A global consortium of journalists obtained documents of over 18,000 Credit Suisse accounts and easily found names of corrupt officials, criminals, and dictators. 

Some of the names were not obscure and a “simple Google search” gave away the misdeeds of the Swiss bank’s clients. 

So why did Credit Suisse, one of the largest banks in the world, with vast security resources at its disposal, continue to keep criminals as its clients?

Read more.