Philippine Central Bank Looks to Social Media to Gauge Sentiment

The Philippine central bank is considering analyzing Internet articles and social media posts as a gauge of sentiment to boost policy making, Governor Benjamin Diokno said.

The bank’s economic research team is studying the use of text analytics to monitor uncertainties in financial markets, he said in a live-streamed briefing Thursday. Policy uncertainty indexes are being developed by tracking down the frequency and combination of words over time, said senior director Zeno Abenoja.

The monetary authority has adopted mobility data from Google and Apple Inc. in sectoral and growth analysis, said Diokno, who’s back from medical leave.

Motorist dies in collision with train in South Wairarapa

A motorist has died after a car collided with a train in South Wairarapa.

Emergency teams earlier rushed to Speedy’s Crossing on Western Lake Rd about 2pm.

However, the car’s driver died at the scene, police said.

“Police remain at the scene investigating.”

Traffic diversions are in place and motorists are asked to avoid the area.

MKS Instruments Q4 Profit Rises

MKS Instruments Inc. (MKSI) reported that its net income for the fourth quarter of 2020 was $116 million or $2.08 per share, up from $43 million or $0.77 per share in the fourth quarter of 2019.

Non-GAAP net earnings were $130 million or $2.34 per share compared to $66 million or $1.20 per share in the previous year.

Net revenues for the fourth quarter were $660 million, an increase of 32% from $500 million in the previous year.

Analysts polled by Thomson Reuters expected the company to report earnings of $2.02 per share and revenues of $602.98 million for the fourth-quarter. Analysts’ estimates typically exclude special items.

The company expects revenue in the first quarter of 2021 of $650 million, plus or minus $25 million. At these volumes, the Company expects GAAP net income per share of $1.91, plus or minus $0.20 and Non-GAAP net earnings per share of $2.16, plus or minus $0.20. Analysts expect the company to report earnings of $1.96 per share and revenues of $603.6 million for the first-quarter.

Disney Cruise Lines Extends Cancellations Out To April, Early May

The Disney Cruise Lines have once again pushed out its departures, now targeting late April and early May for renewed service.

A statement today from the Disney Cruise Line said the service is “carefully preparing for a return,” but is awaiting “technical guidance” from the Centers for Disease Control and Prevention before greenlighting anything.

As such, it is canceling all sailings departing through April 2021 and select sailings from the Disney Magic and Disney Wonder ships in May.

The company statement:

The move continues cutbacks at the company, which has seen layoffs and the end of such vehicles as Radio Disney, as the pandemic’s fallout ruthlessly attacks the bottom line.

Guests who have paid for a reservation on the affected sailings will have the choice of a full refund or a cruise credit for a future trip.

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Global Gold Demand Seen to Rebound From 11-Year Low

Global gold demand is set to recover this year, after slumping to the lowest in more than a decade in 2020, according to the World Gold Council.

With bullion prices climbing to an all-time high and pandemic lockdowns stifling consumption, demand for gold jewelry fell to the lowest on record last year, the WGC said in a report Thursday. That decline was led by the key Indian and Chinese markets, which experienced historically weak sales.

Now China’s economic recovery is supporting a rebound in demand, said Louise Street, the WGC’s senior markets analyst.

The outlook partly depends on investment demand, which surged to a record last year as inflows into exchange-traded funds more than doubled. That helped gold to climb by the most in a decade in 2020. Prices have declined this year as improving economic prospects drove Treasury yields higher, denting the appeal of the haven asset.

SGS SA FY20 Adj. Operating Income Declines; Organic Revenue Down 6.5%

SGS SA (SGSOY.PK) reported fiscal 2020 profit to equity holders of 480 million Swiss francs, a decrease of 27.3% over prior year. Earnings per share was 63.82 francs compared to 87.18 francs. Adjusted operating income was 900 million Swiss francs in 2020, a decline of 15.3% (a decline of 8% at constant currency). Adjusted basic earnings per share decreased to 75.44 francs from 88.17 francs.

Fiscal year total revenue was 5.6 billion Swiss francs, down by 15.1% (a decline of 8.8% at constant currency), notably driven by the disposal of the Petroleum Service Corporation in 2019. Organic revenue declined by 6.5% impacted by the pandemic.