ANC: PSEi climbs back above 5,700

Global stocks tracked Wall Street’s overnight gains, as optimism over technology shares persisted despite reports of a probe involving Nvidia chief executive Jensen Huang’s alleged affair.

Asian markets rallied, with a regional market gauge rising around 2%, while Europe’s benchmark index also climbed. Meanwhile, Brent crude prices fell below $90 a barrel for the first time since August.

In the Philippines, stocks recovered on last-minute buying despite disappointing third-quarter economic growth figures.

The benchmark Philippine Stock Exchange index gained 0.7% to close at the 5,700 level.

In corporate news, GCash parent company Mynt reported a 17% increase in net income to P16.5 billion in the first nine months of the year.

Revenues also grew to P67 billion, which the company attributed to continued user growth, improved payment penetration, and sustained expansion in its lending business.

The earnings report came about a month after Mynt’s historic listing on the Philippine Stock Exchange. Its initial public offering raised nearly P61 billion, making it the country’s largest IPO.

Meanwhile, telecommunications giant Globe Telecom posted P129 billion in service revenues for the nine-month period, including P91 billion from mobile services.

However, its net income after tax declined by P17.7 billion.

Globe attributed the decline to higher depreciation and net interest expenses, as well as non-recurring gains recorded in the previous year from tower sales and the dilution of its stake in Mynt.

The company said its performance continued to benefit from GCash, which contributed 28% of its pretax income.

Property developer Megaworld reported P19 billion in net income from January to September, supported by growth in its recurring income businesses and steady residential revenue bookings.

Consolidated revenues were nearly unchanged at P66 billion.

The company said its office, mall, and hotel operations all contributed to growth, alongside real estate sales, despite headwinds in the property market.

Finally, the Jollibee Group reported net income after tax of P8.1 billion, while systemwide sales reached P377 billion.

Revenues amounted to P250 billion during the period.

Jollibee Foods Corporation President and Chief Executive Officer Ernesto Tanmantiong said the latest results reflected accelerating growth, with the company’s Philippine and international businesses contributing nearly equally to overall performance. – ANC, The World Tonight, November 10, 2026