For the week, the PSEi lost 43.25 points or 0.5 percent from last Friday’s closing of 7,724.37 due to escalating political jitters in the US and the lower-than-expected Philippine gross domestic product (GDP) growth rate of 6.4 percent year-on-year in the first quarter. This is lower in contrast to the consensus GDP growth of 6.7%. Even though PSEi took a beating throughout the week, it managed just enough upside momentum to close flat ahead of the weekend
THIS WEEK’S HEADLINERS:
- PH economy grows slower by 6.4% in Q1
- AEV reported a -7.04% drop in first quarter year-on-year profits while Cosco Capital Inc. [pse: COSCO] posted an 8% growth.
- MWIDE Q1 2017 net income at PHP549 million. Airport subsidiary GMR MEGAWIDE Cebu Airport Corporation posts 44% increase in net income
- IMI Acquisition of 8% stake in STI Enterprises Ltd. (STI)
- TECH approved 10% Stock dividend
- LTG Duterte signs executive order on nationwide smoking ban
- EW Q1 2017 Net Profit +54% to P1.2b robust loan growth and improving productivity
- NOW Corp’s revenues rise three-fold
NEW 52 WEEK HIGHS THIS WEEK:
- Bloom
- IMI
- ICT
- EEI
- UBP
NEW 52 WEEK LOWs THIS WEEK:
- MAXS
- AP
- CHIB
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