SHARE prices gained last week as investors accumulate assets ahead of the US Federal Reserve meeting this week and more local earnings results for the second quarter of the year.The main index made gains early in the week, slightly going down during mid-week before going up again by Friday.
Top gainers were Cemex Holdings Philippines Inc., SOCResources Inc., Ionics Inc., Vivant Corp., SFA Semicon Philippines Corp. and Manila Broadcasting Co. “This is not a uniquely new concern for markets, having to discount and account for this global tightening for most if not all of the the second quarter of 2022,” the broker said.
“We may see optimism if investors hear more plans to solve the country’s lingering concerns including food security, inflation and fiscal consolidation in the upcoming SONA. Investors are also seen to watch out for plans on how to sustain the economy’s recovery from the pandemic,” Tantiangco said.
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