LAST week: Philippine share prices ended on strong note Wednesday following a rally on Wall Street on the heels of the US Federal Reserve decision to cut interest rates by another 75 basis points to 2.25 percent.

The benchmark Philippine Stock Exchange index rose 40.16 points, or 1.4 percent, to 2,817.58. A total of 977.05 million shares worth P2.96 billion exchanged hands on a shortened trading week. Markets were closed Thursday and Friday for Lent.

THIS week: Astro del Castillo, managing director of First Grade Holdings, said he expects a cautious approach to the market and investors putting on a wait-and-see attitude.

“It will all depend on the news that will come from abroad. Hopefully, the euphoria will continue after the long break,” he said in an interview.

For his part, Conrado Bate, president of CitisecOnline.com, said the PSEi might have found a short-term bottom as of its performance last Wednesday.

“However, I don’t think investors are going to rush back into the market after seeing several past rallies not being sustained. I think investors need to see less volatility coming from the US before they refocus on fundamentals,” he said.

Bate expects range trading with the benchmark index moving within 2,750 and 3,000.

STOCKS to watch: Del Castillo said the spotlight would be on blue-chip stocks, particularly companies that are expected to declare cash dividends.                         

DESPITE the current slack in use and acceptance of 3G services, Smart Communications Inc. plans to expand the business and offer “more complex” applications that require bigger-frequency bandwidths.

Shell, DOE to launch natural gas program for buses with free ride

FINALLY the government’s Natural Gas Vehicle Program for Public Transport (NGVPPT) will materialize with the scheduled commercial operation of 11 compressed natural gas (CNG) buses on Monday.

THE board of listed IPVG Corp. has endorsed the stock-purchase deal between the company and shareholders of MEGAMobile Inc.

LAST week: Philippine share prices ended on strong note Wednesday following a rally on Wall Street on the heels of the US Federal Reserve decision to cut interest rates by another 75 basis points to 2.25 percent.

LISTED mining firm Geograce Resources Philippines Inc. is eyeing a partnership with one of South America’s mining giants for the exploration of copper mines in Masbate.

Depending on whom you talk to, sighs of relief, or regret, marked the recruitment industry when Labor Secretary Arturo Brion was sworn in last week as Associate Justice of the Supreme Court.