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SAN
Miguel Corp. (SMC) was in an unlikely spot last week as
its common A shares and common B shares landed among the
market’s 30 biggest losers in last week’s trading.
SMC B
lost 6.12 percent when it closed at P46. Its A shares
dropped 5.38 percent, closing at P44.
One of
the market’s favorite blue chips, SMC reported a net
income of P11.189 billion in the first quarter of 2008,
which was 5.067 times its net profit of P2.208 billion
in the same period in 2007.
The
filing showed SMC’s net profit during the period
consisted of P5.524 billion from continuing operations
and P5.665 billion from discontinued operations.
Discontinued operations refer to units which SMC has
sold.
Alliance
Global Group Inc. (AGI), the new flagship holding
company of businessman Andrew Tan, was the fifth-biggest
loser. It closed at P3.60, down 8.86 percent. It had
value turnover of P234.69 million
Big
gainers
Dizon
Copper-Silver Mines Inc. surged 21.62 percent to close
the week at P4.50 from P3.70 on May 9, the only session
during the previous week when the stock was traded. Its
performance, though 15 centavos off its 30-month high of
P4.75, made it the week’s best performer on thin value
turnover of P548,000.
The
market reports showed no disclosure that would justify
Dizon’s climb except for a filing that showed the mining
company narrowed its net loss to P11.537 million in
2007, from P17.392 million in the previous year. The
mining stock’s close on Friday showed the company ahead
in buying back its own shares. In a filing, it said as
of December 31, 2007, it had reacquired 1.08 million
shares at average price of P2.97 against Friday’s close
of P3.70.
TKC
Steel Corp. was only a few points behind Dizon. It ended
the week’s session at P4.55, up 21.33 percent, but which
was still way off its 30-month high of P5.20 on April 9.
It had five-day value turnover of P38.493 million.
****
STOCK MARKET OUTLOOK
By Honey M. Reyes
LAST
week:
The Philippine Stock Exchange index ended on a positive
note on Friday, up 100.53 points or 3.61 percent week on
week to 2,879.95. The absence of negative news coupled
with short-term trading positioning augured well for the
market last week.
THIS
week:
Maria
Arlysa E. Narciso, a market analyst at AB Capital
Securities, said investors would remain careful in the
coming days with concerns still on commodity prices.
“Most will definitely be on the lookout for improvements
in the US and Asian markets. For this week, we don’t see
any major catalyst that will move the market. There are
no major economic reports due next week and most of the
first-quarter corporate earnings results have already
been released,” she said.
Metrobank’s treasury group shared the same sentiment.
“This week, market is expected to remain cautious with
crude oil at record levels. The high prices of
commodities will add worries on how pricing pressures
will hurt consumer spending,” it said.
STOCKS
to watch:
Some traders, meanwhile, said attention would be given
to consumer-related stocks like Jollibee, San Miguel
Corp., Universal Robina Corp. and Petron in the light of
rising commodity prices. |
