Vaccines, earnings growth to push PH markets up in 2021

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The investment banking arm of the Metrobank Group is “cautiously optimistic” this 2021, as vaccine news and public spending are poised to somewhat bring back the billions of pesos wiped out by the pandemic last year.

forecasted that the Philippine Stock Exchange index may end somewhere between 7,800 to 8,100 this year, as vaccine roll outs and the reopening of businesses revive the recession-hit economy.The index went on a meltdown when the lockdowns were imposed last March 2020, triggeringThe recovery of Philippine shares will be supported by corporate earnings growth, seen to rise by as much as 29% in 2021.

For instance, Abola said that while some 5.6 million jobs returned since the 8.9 million dip last April, it still meant that some 3.3 million Filipinos

 

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