Sunday, February 3, 2013

Philippines Weekly News Update - 28 January -1 February 2013

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Top Story:

13th for 2013. The Philippine Stock Market Index (PSEi) has posted its 13th record high at 6,318.61. The economy has recorded a 6.6% GP growth last quarter in 2012, and optimism from different financial institutions and media here and abroad buoyed positive investor confidence. In a Bloomberg special market report, the Philippines was mentioned as one of the top 20 emerging markets in the world today.

Company News:

Metro Pacific sets P36-B capex level for 2013 Asiatrust restructures, closes banking operation
Expect lower electric bills this month

Pick of the Week:

MER (Meralco)*

Target Price: 327
Current Price: 298.80
Horizon: Short term to medium term

*Pick of the week is based Colfinancial.com. Caveat as always.

Quote of the Week:

“We are hoping and we are working [to] sustain this growth and get this growth spreading, benefiting the broader sections of society. The key here is really sustaining it in such a way [that it will] benefit a large part of population, especially the poor,” said Socioeconomic Planning Secretary Arsenio Balisacan, also the director general of the National Economic and Development Authority (Neda).


Sources:

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