“The local market rode on positive momentum last week but the sustainability of this rally is questionable amid the lingering economic headwinds that may dampen sentiment,” said Philstocks Financial Senior Supervisor for Research Japhet Tantiangco.He noted that “This includes the peso’s further weakening, and the supply problems of certain agricultural goods, both of which pose upside risks to inflation.
Brokerage firm 2TradeAsia.com warned that, “Inflation printing at 6.1 percent is practically just stronger confirmation of another round of hikes this month lest the BSP risk being more behind the curve.” Meanwhile, it said that, “Feelers for first half 2022 results are gradually materializing. The expected prevalent theme will be margin compression, particularly for those who import raw materials and those whose revenue models are dependent on local consumer confidence.”
For stock picks, Abacus Securities Corporation is favoring Universal Robina Corporation as palm oil prices keep falling. Wheat has also come off its own high by a substantial margin.Meanwhile, the brokerage also likes Petron, DMCI and Semirara. Petron’s second quarter earnings are likely to be even better compared to the first quarter as “robust refining margins will probably be sustained as long as the war in Ukraine drags on.
COL Financial has the same view. It has “High Conviction” that Semirara will be included in the PSEi index after placing 25th in the ranking based on full market capitalization. SCC also fits all the other inclusion criteria.
المملكة العربية السعودية أحدث الأخبار, المملكة العربية السعودية عناوين
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