The Philippine Stock Exchange index rallied above 6,800 on Thursday as investors cheered the rosy inflation outlook by Bangko Sentral ng Pilipinas Governor Felipe Medalla. | miguelrcamusINQ /PDI
Investors were also monitoring the latest US inflation print, which would influence the Federal Reserve’s upcoming interest rate decisions.
Manuel V. Pangilinan-led Metro Pacific Investments Corp. pulled back from a multiday rally after disclosing on Thursday it was in talks with various interested investors but no deal had been finalized. “As the leading infrastructure company with a very attractive portfolio of assets, MPIC receives a lot of interest from investors,” Metro Pacific said in a stock exchange filing.
“To date however, MPIC has not entered into any definitive agreement for an acquisition by any party of a substantial interest in MPIC, and neither is MPIC aware of any definitive agreement entered into by its principal shareholders,” it added.
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