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PHILIPPINE Seven Corp. was the biggest gainer last week
in the list collated by the Philippine Stock Exchange (PSE)
when it traded at P4.30 throughout the half-day session
on September 3 on a thin volume of 26,000 shares, or a
value turnover of P111,000.
Medco,
as in the past few weeks, again made it to the list of
best performers, second only to PhilSeven. The PSE said,
as in a number of stock gainers last week and in
previous weeks, that there were no disclosures to
justify its continued runup.
But the
biggest surprise that even company insiders could not
explain its rise was JTH Davies Inc. Despite a court
suit questioning the transfer by Philippine Racing Club
Inc.’s (PRCI) racetrack to JTH Davies, JTH closed at
P20.25 on September 5, when only 100 JTH shares changed
hands, up 50 percent from P13.50 on September 3. As its
parent company, PRCI owns over 98 percent of JTH Davies’
outstanding shares, with the rest held by the public.
As in
the past, JTH Davies said it did not know of any
particular factor that would have triggered the big
price surge.
Manila
Mining Corp. was among last week’s top performers. MAB,
the shares available to foreigners, closed on September
7 at P0.031, after opening at P0.027, hitting a high of
P0.031 and dropping to a low of P0.027. It reached its
30-day high of P0.033 on July 26 and fell to a month low
of P0.022 on August 17.
On the
other hand, Manila Mining A shares ended the week’s
trading at P0.026 after hitting a high of P0.027 and a
low of P0.024. The stock peaked at P0.03 on July 26, and
fell to a low of P0.017.
Information Capital Technology Ventures Inc. was last
week’s biggest loser. It closed on September 7 at P1.72
after opening the session at P1.84. It hit a high of
P1.84 and dropped to a low of P1.70. The stock recorded
a 30-day high of P2.70 0n July 31 and a month’s low of
P1.7.
Information Capital Technology Ventures Inc. made it to
the weekly list of bad performers a day after the
Securities and Exchange Commission approved the
amendment to its corporate charter, increasing the
members of its board to 11 from seven.
A few
old reliable blue chips are among last week’s losers,
which include Benpres Holdings Corp., Manila Electric
Co. (Meralco), Southeast Asia Cement Holdings Inc., EEI
Corp., Filinvest Land Inc. and Alliance Global Inc.
Benpres,
the listed holding company of the Lopez family, closed
the week at P3.70 after opening at P3.85, its session’s
high. It fell to a low of P3.65. At its peak, Benpres
reached P5.30 on July 26 and dropped to a low of P3.40
on August 17 as the market continued falling.
Meralco
also fell after the company announced that power rates
for Meralco residential users will go down by 68
centavos in September. The PSE stock report showed
Meralco slowly dropped after hitting a high of P104 on
July 26. It fell to a low of P95 the following day and
plunged to its lowest in 30 days at P73.50 on August
17. |
