PSE IGNORES WALLSTREET SLUMP | MM | DITO | PX | FNI | LC | STOCK MARKET SUMMARY

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PSEI ignores Wall Street slump. In this today’s stock market summary.

We start with DITO - Dito Telecommunity Corporation, is a telecommunications company in the Philippines. It is a consortium of Davao businessman Dennis Uy's Udenna Corporation and its subsidiary Chelsea Logistics Corporation, and Chinese state-owned China Telecommunications Corporation, a parent company of China Telecom. A third telecom player that will rival the telecom giants led by Smart Communications and Globe Telecoms, Internet, cellular network and data provider.

Also discussed is the stock MerryMart Grocery and Supermarket headed by Injap Sia, one of the hottest stocks in the Philippines today and the rival of Puregold with hundreds of nationwide branches.

MERRYMART Grocery Centers Inc. opened its first supermarket at the Ground Floor of DoubleDragon Plaza, DD Meridian Park, Bay Area, Metro Manila, and the setting of MERRYMART’s 12-12-12 Vision 2030.

MERRYMART aims to cover all the grocery retail categories from small, medium and large grocery retail formats. MERRYMART will have three (3) grocery retail formats:
1. MERRYMART Grocery
2. MERRYMART Market
3. MERRYMART Store

Next stock in review is Global Ferronickel Holdings, Inc. (FNI) was founded on May 3, 1994 as Southeast Asia Cement Holdings, Inc. FNI is a holding company with principal business interests in mineral resource exploration, mining and exporting of nickel ore. Its mineral property comprises 4,376 hectares in Sitio Kinalablaban, Brgy. Cagdianao Claver, Surigao del Norte, Philippines. FNI's subsidiaries are Platinum Group Metals Corporation, Surigao Integrated Resources Corporation, PGMC-CNEP Shipping Services Corp., and PGMC International Limited.

Followed by Philex Mining Corporation (PX) primarily engages in mining activities. The Company and its subsidiaries are organized into two main business groupings: the mining business under the PX, Philex Gold Philippines, Inc. (PGPI) and Silangan Mindanao Mining Co., Inc. (SMMCI), and the energy and hydrocarbon business under PXP Energy Corporation but not until July 15, 2016, when PXP and its subsidiaries ceased to be subsidiaries of PX as a result of loss on control through property dividend declaration. Currently, the group focuses on its core mining business.

PX and its subsidiaries are primarily engaged in large-scale exploration, development, and utilization of mineral resources. The Company operates the Padcal mine for the past 60 years using the underground block-cave method. It is one of the longest operating mines in the country and produces copper concentrates, containing copper, gold and silver. PGPI operated the Bulawan mine in Negros Occidental until the second quarter of 2002. Silangan Mindanao Exploration Co., Inc., through SMMCI, owns the Silangan project covering the Boyongan and Bayugo deposits in Surigao del Norte. Source: PSE Edge

Last stock on review is LC - Lepanto Consolidated Mining Company is a Filipino primary gold producer. Lepanto has been a proud corporate resident of Mankayan, Benguet since 1936.

Lepanto continues to produce gold from its Victoria operations, located in Mankayan, Benguet. Lepanto resumed copper operations in 2008, which it suspended in the fourth quarter of that year due to the sharp decline in copper prices.

Lepanto has four wholly-owned subsidiaries, namely: Diamond Drilling Corporation of the Philippines, Diamant Manufacturing & Trading Corporation, Lepanto Investment and Development Corporation and Shipside, Incorporated.

News Links:

1. https://mb.com.ph/2020/09/04/factory-output-sustains-signs-of-recovery-neda/
2. https://business.inquirer.net/306541/inflation-eases-to-2-4-percent-in-august
3. https://www.manilastandard.net/business/power-technology/333105/pnoc-ec-eyes-extension-of-malampaya-gas-contract-.html
4. https://www.philstar.com/business/2020/09/04/2039883/neda-world-bank-report-digital-economy-out-soon
5. https://www.investagrams.com/Stock/MarketSummary

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To those who are new to the stock market, you may check this video on stock trading to jump start your investment journey.
https://www.youtube.com/playlist?list=PLR01Fj_Sifly7F0nWbO9CoFWK4muT2YZC

To those who want to invest and put their money on stocks, check this playlist:
https://www.youtube.com/playlist?list=PLR01Fj_SiflxzlHdA-m-SShb37lyo1OWs

Want to watch previous episodes of the Philippine Stock Market Opening Bell Live? Check this playlist: https://www.youtube.com/playlist?list=PLR01Fj_SiflySRuAsB3biEy-GVTZEVbTG

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