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PXP ENERGY Corp. (PXP) shares soared last week as investors took positions following the government’s decision to lift the ban on oil and gas exploration in the West Philippine Sea and the company’s confirmation that it was in ongoing negotiations with a Chinese oil company on a joint oil and gas development in the contested waters.
THE MARKET saw renewed interest in NOW Corp. in hopes of the company being named the country’s fourth telco player as well as its partnership with Vietnam’s Viettel Business Solutions Corp. to offer information and communications technology (ICT) products and services in the Philippines.
PROPERTY DEVELOPER Ayala Land, Inc. (ALI) became the eighth most active issue last week after it disclosed plans for more bond issuances to bolster its balance sheet, which coincided with an upbeat quarterly central bank home prices index report.
A PLAN between MerryMart Consumer Corp. and FoodPanda Philippines to launch a purely online grocery service in the country has driven the former’s stock activity last week.
JOLLIBEE FOODS CORP. (JFC) was one of the actively traded stocks last week after the rebalancing of a global index while market players look for clues for the pandemic-battered company’s recovery.
INVESTORS took positions on Ayala-led AC Energy Philippines, Inc. last week with analysts, attributing the move to market players digesting the earnings results released last month, as well as the divestment by an affiliate of its holdings in an Australian energy firm.
AYALA CORP. was among the most actively traded stocks last week after the Philippine Competition Commission approved Philippine billionaire Enrique Razon’s takeover of unit Manila Water Co., Inc.
MARKET PLAYERS snapped up Axelum Resources Corp. (AXLM) last week immediately after Metro Manila and surrounding areas returned to general lockdown, despite the coconut products exporter booking lower profit in the second quarter.
NEWS of Emperador, Inc.’s inclusion in the 30-member benchmark Philippine Stock Exchange index (PSEi) and its plan to expand to Latin America next year lifted the liquor manufacturer’s stock price last week.
UNIVERSAL ROBINA CORP. (URC) is one of the most actively traded issues last week as investors took notice of its resiliency despite the lockdowns in several areas of the country.
MARKET PLAYERS reacted to news surrounding telecom giant PLDT, Inc. last week — namely, President Rodrigo R. Duterte’s renewed threats to close or expropriate telco firms if they do not improve on their services, and the announcement of PLDT subsidiary Smart Communications, Inc. to launch its fifth-generation (5G) service starting the end of July.
INVESTORS rebalanced their positions on Bank of the Philippine Islands (BPI) last week after it released its first-half earnings report.
NEWS of Philippine lawmakers rejecting the franchise application of ABS-CBN Corp. drove market players to take positions — and later profits — on the stock of rival GMA Network, Inc. last week.
INVESTOR concerns over stricter lockdown dragged property stocks, making Ayala Land, Inc. (ALI) the third most actively traded stock last week.
INVESTORS remained lukewarm on Alliance Global, Inc. despite the diversified conglomerate’s report of a double-digit income growth last year as the pandemic cast a long shadow to its profitability this year.
MERRYMART Consumer Corp. ended up as the most actively traded stock in the Philippine Stock Exchange (PSE) last week following its market debut on Monday.
ECONOMIC uncertainty brought about by the pandemic’s “new normal” prompted investors of BDO Unibank, Inc. to take profit, making it the fourth most actively traded issue last week.
PROFIT taking drove much of Globe Telecom, Inc.’s stock activity last week.
INVESTORS took positions on Puregold Price Club, Inc. last week with analysts attributing it to its earnings result and its addition to a global equity index.
METRO Pacific Investments Corp. (MPIC) was among the companies whose stocks saw renewed investor interest after President Rodrigo R. Duterte’s apology to Manuel V. Pangilinan and the Zobel brothers over his remarks about the businessmen’s companies in recent months.
INVESTORS sold off Ayala Land, Inc. (ALI) shares last week after the property developer’s decision to cut capital expenditures (capex) for the year because of overall market weakness brought about by the coronavirus disease 2019 (COVID-19) pandemic.
INVESTORS pounced on the Jollibee Foods Corp. stock last week as they took advantage of its attractive valuation following weeks of sell-offs.
PLDT, INC. was one of the most actively traded stocks last week as investors expected the company’s earnings to at least be sustained amid the enhanced community quarantine (ECQ) by way of higher demand for data services among households.
INVESTORS, spooked by the coronavirus disease 2019 (COVID-19) pandemic, prompted massive sell-offs, making BDO Unibank, Inc. one of the most actively traded issues last week.
INVESTORS continued to take positions on Metro Pacific Investments Corp. (MPIC) stock last week following the release of the company’s annual earnings results late last month.
INVESTORS sold MacroAsia Corp. shares following news of the company, along with its Chinese partner China Communications Construction Co. Ltd. (CCCC), being awarded the contract to develop Sangley airport in Cavite.
INVESTORS sold off ISM Communications Corp. shares last week with analysts attributing the movement to overall negative market sentiment as well as news on Dito Telecommunity Corp.’s possible delay in its commercial operations.
PHILWEB Corp. was among the most actively traded stocks last week with traders taking their cue from news regarding the firm being in talks with an online gaming provider in a bid to return to profitability this year.
THE government’s review of its contracts with diversified conglomerate Ayala Corp.’s units prompted investors to sell the stock, making it one of the most actively traded issues last week.
INVESTORS bet on the future of Sy-led SM Prime Holdings, Inc. after President Rodrigo R. Duterte said he would not approve proposed Manila Bay reclamation projects unless proponents have safety measures for the environment and public health.
THE recent purchase of PLDT, Inc. shares by Gokongwei-led JG Summit Holdings, Inc. made the latter one of the most actively traded stocks last week with investors deciding to take profits.
DESPITE investors unloading shares of Jollibee Foods Corp. for the majority of 2019 due to profitability concerns, the stock may once again be back on the shopping list with one analyst saying the current stock price is already at a bargain.
POLICY UNCERTAINTY surrounding the property sector led some market players to take profits on Ayala Land, Inc. (ALI) stocks last week.
AYALA-LED Manila Water Company, Inc. was one of the most actively traded issues last week as investors bet on the future of the concession agreements of the country’s two largest water companies.
THE government’s decision to revoke the extension of the concession agreements with Metro Manila’s two water providers last week led investors to sell their shares in affected listed firms, such as DMCI Holdings, Inc. which has a minority stake in Maynilad Water Services, Inc.
PRESIDENT Rodrigo R. Duterte’s tirade against Metro Manila’s water concessionaires last week led investors to unload shares of Metro Pacific Investments Corp. (MPIC) as it is the controlling stakeholder of water firm Maynilad Water Services, Inc.