SCUTTLEBUTT

Safe haven shares rake it in

On 15 June, Israel launched missile strikes targeting Iran’s nuclear and military sites. In retaliation, Iran fired two separate salvoes of missiles and drones at Israel.

The conflict has since escalated. On the diplomatic front, both nations remain steadfast in defending their positions, with no resolution in sight. The situation grew even more complicated when the United States became further entangled in the skirmish — particularly after former US President Donald Trump floated the idea of involving Russian President Vladimir Putin as a potential mediator.

Equities broker AB Capital Securities said the ongoing war has intensified investor interest in safe-haven assets.

“Israel knocking out Iranian targets is causing a little bit of geopolitical scare in the market. Prices stay elevated with the retaliation by Iran,” said Daniel Pavilonis, senior market strategist at RJO Futures.

Gold mining firms such as Philex Mining Corp., OceanaGold Philippines, and Apex Mining Co. Inc. saw their shares hold firm at key support levels. If the conflict drags on and more countries become involved, these stocks may soon break out as they near resistance levels.

Duking it out at Osaka

Nosey Tarsee has caught wind of an intriguing development in Japan that may have implications for the House leadership in the upcoming 20th Congress.

Deputy Speaker and Cebu 5th District Rep. Duke Frasco was spotted accompanying President Ferdinand R. Marcos Jr. during his visit to the Philippine pavilion at World Expo 2025 in Osaka. Eyebrows were raised when Frasco was heard reaffirming his full support for the President.

Frasco had previously stirred political speculation after declining to sign the widely publicized manifesto of support for House Speaker Martin Romualdez.

The official explanation for his Japan trip was that he joined the President and key officials to participate in business meetings and visit the Expo to strengthen diplomatic, cultural, and economic ties with international partners.

Still, the high-profile appearance appears to carry a deeper political message.

“The role of the House is to advance national progress, not to deepen political divides. It must more clearly reflect the President’s call for unity, stability, and results. My commitment to the President’s vision remains firm, and I believe the House should be a proactive partner in delivering meaningful change for the Filipino people,” Frasco was overheard telling PBBM.