Weekly Equities Summary and Outlook : April 16 – 20, 2018

Weekly-Equities-and-Economic-Outlook
Equities Summary and Outlook Market Outlook. We expect the PSEi to hover between 7,400-7,700 amidst weak sentiment over the country’s accelerating inflation, overheating risks, and rising US bond yields ahead of Q1 earnings results. Last Friday, BDO announced its Q1 2018’s core earnings (+16% y-o-y, underperformed), while CHP and MER will disclose their Q1 results on April 27 and April... Read More

Weekly Equities Summary and Outlook : April 09 – 13, 2018

Weekly-Equities-and-Economic-Outlook
Equities Summary and Outlook Market Outlook. We expect the market to continue trading lower amidst overheating concerns by the World Bank (WB). But University of Asia and the Pacific Economist Dr. Victor Abola noted that the country’s current account deficit to GDP ratio is far from crisis threshold of 5% equal to $15.67bn. Market Review. Last week, the market bucked... Read More

Weekly Equities Summary and Outlook : April 02 -06, 2018

Weekly-Equities-and-Economic-Outlook
Equities Summary and Outlook Market Outlook. We expect the PSEi to consolidate between 7,900-8,000 due to lack of catalyst. Despite strong macroeconomic fundamentals, the spectre of accelerating inflation, widening trade deficit, and weak PHP will continue to weigh on the market. Market Review. The PSEi traded sideways since yesterday to end today at 7,943.9. Last week, the bellwether moved in... Read More

Weekly Equities Summary and Outlook : March 26 – 28, 2018

Weekly-Equities-and-Economic-Outlook
Equities Summary and Outlook Market Outlook. We expect the market to trade sideways to lower should the March inflation reading on Thursday proved upward to the consensus estimate of 4.7%, higher than 4.5% in February and the central bank’s estimate of 3.8% to 4.6%. Market Review. The market traded flat, up by +0.1% to 7,979, following most regional markets (see... Read More

Weekly Equities Summary and Outlook : March 19 – 23, 2018

Weekly-Equities-and-Economic-Outlook
EQUITIES OUTLOOK Market Outlook. We expect PSEi to trade between 7,800-8,000 as worries that the US-China tariff threats could lead to a full-blown trade war weigh on the market in the near-term. Drivers. Domestic catalyst will likely surface in the second week of May when the gov’t releases the Q1 2018 GDP results, which we expect to be strong given... Read More

Weekly Equities Summary and Outlook : March 12- 16, 2018

Weekly-Equities-and-Economic-Outlook
EQUITIES OUTLOOK Market Outlook. We expect the market to trade lower as investors remain on a sell down position ahead of the Bangko Sentral ng Pilipinas (BSP) and US Federal reserve policy meetings. The Federal Open Market Committee (FOMC) will discuss its monetary policy today and tomorrow while the BSP Monetary Board will hold its meeting on Thursday, March 22.... Read More

Weekly Equities Summary and Outlook : March 05 – 09, 2018

Weekly-Equities-and-Economic-Outlook
EQUITIES OUTLOOK Market Outlook. We expect the market to trade between 8,300-8,600. Healthy fourth quarter/full year (FY) 2017 earnings to support the domestic market. Out of 18 companies that have released their FY 2017 earnings — seven were in-line, two outperformed, while nine underperformed. Key data to watch out for this week are US CPI and retails sales for Feb.... Read More

Weekly Equities Summary and Outlook : February 29 – March 02, 2018

Weekly-Equities-and-Economic-Outlook
EQUITIES SUMMARY AND OUTLOOK Market Outlook. We expect the market to continue consolidating as investors remain on the sidelines, given higher inflation reading for February at 4.5%. The good news enabling market to hold was last week’s MPI announcement of a 17% increase in core net income to Php14.1bn (outperform) while SM reported a 9% increase in recurring net income... Read More

Weekly Equities Summary and Outlook : February 19 – 23, 2018

EQUITIES OUTLOOK Outlook. We expect PSEi to trade between 8,400-8,600 as the market awaits Fed chair Powell’s testimony before Congress on Feb. 27 (US time). Locally, investors continue to digest latest earnings results — MER, +3% to P20.2bn (outperformed), and BDO, +14% to P28.4bn (in-line with consensus). Earnings are supportive of potential market recovery. Of the 14 companies that have... Read More

Weekly Equities Summary and Outlook : February 12 – 16, 2018

Weekly-Equities-and-Economic-Outlook
First Metro Weekly Equities and Economic Outlook – February 12 – 16, 2018 Outlook. We expect the market to trade within 8,500-8,700 amidst the lack of catalysts. Investors remain on the sidelines ahead of more full-year 2017 earnings this week and US gross domestic product (GDP) next week. Last week, Jollibee Food Corp. and Ayala Land released their FY2017 net... Read More