Manila Water, Megaworld hot stocks
LAST WEEK. The Philippine Stock Index (PSEi) dropped for a second straight week given a last minute sell-off on Friday and a lack of fresh leads in both domestic and international scenes. The market lost 55 points or 2.3 percent to close below the 2,300 psychological mark.
THIS WEEK. Analysts believe that the market would experience mixed trading, even as it would have close positively, given the bullish outlook from international agencies and foreign investors who see the country’s improved liquidity management bullish in the long term.
George Ching, research analyst of Citiseconline.com, Inc., said a wait-and-see attitude would prevail this week, since the second-quarter corporate earnings have been reported.
BELL RINGERS. Ching said there would be interest in Manila Water and Megaworld stocks given the strong performances they have displayed in the second quarter. On Friday, Manila Water rose 1.12 percent to P9, while Megaworld closed 1.18 percent higher at P1.68.
RED FLAG. The share price of Petron could experience another fall this week with the continued issue on the massive oil spill around Guimaras Island off the coast of Iloilo, on Panay Island. On Friday, Petron dropped 3.85 percent to P3.75.---Honey Madrilejos-Reyes
No comments:
Post a Comment