What an awesome week we had huh? PSEi closed at new high this year at 7,841.99. Also up +2.362% versus compared to week. Last week lang PSEi registered its new high (2017).
The rally came on the back of optimism on the government’s tax reform program after the Department of Finance said Congress could pass the first part of the Comprehensive Tax Reform Program by midyear.
Team mining is on a rampage this week, too bad its on the expense of another person’s cabinet seat. I wonder if the rally continues for the rest of the month. Oh well, gain is a gain.
This week’s headliners:
- CNPF buys Hunt’s brand in PH from a 50-50 joint ownership of URC and ConAgra. The Acquisition involves the license for “Hunts” a pork and beans brand in the Philippines.
- The Commission on Appointments (CA) rejected the appointment of Environment Secretary Gina Lopez amid issues over her controversial policies and alleged incompetence.
- SMPH 1Q 2017 Net Income Up +13% YoY to Php6.595B
- CHIB declared 8% stock dividend
- NIKL 1Q 2017 Net Income +P377.5M vs Net Loss of -P300.8M in 1Q 2016
- AP 1Q 2017 Net Income Down -13% YoY to P4.4B on One-Off Forex Losses
- MPI 1Q 2017 Core Net Income Up 14% to Record Php 3.1 Billion
- IMI’s Q1 nets $8.7M, 33% up YoY
NEW 52 WEEK HIGHS THIS WEEK:
- AUB
- BEL
- 2GO
- PNX
- SCC
- MWIDE
- BRN
- MCP
- UBP
- SM
- RCB
- Bloom
