Sunday, April 27, 2014

Stocks seen to ease








Local stocks may continue to succumb to profit-taking this week as investors pause to review their position after the strong run-up in the last couple of weeks.


The main-share Philippine Stock Exchange index (PSEi) gained 13.92 points (0.21 percent) to close on Friday at 6,685.10.


Joyce Ann Ramos, an analyst at AB Capital Securities, said that while the four-month upward trend remained intact, the correction might continue this week as investors pocket their gains from the bullish run starting in end-March.


The correction is seen likely specifically when the index failed


to break through 6,800 and as the market’s price-to-earnings ratio has now reached 20.22x, higher than the 17.02x as of end-2013 and the 14.43x 10-year average, Ramos said.


A price-to-earnings ratio of 20.22x means investors are paying about 20 times the amount of money they expect to make from the market.


Ramos said that among the US data releases to watch this week would be pending home sales, consumer confidence, non-farm employment change, advanced gross domestic product, Federal Open Market Committee statement, Federal Reserve Chair Janet Yellen’s speech and the unemployment rate. Doris C. Dumlao



Follow Us







Recent Stories:


Complete stories on our Digital Edition newsstand for tablets, netbooks and mobile phones; 14-issue free trial. About to step out? Get breaking alerts on your mobile.phone. Text ON INQ BREAKING to 4467, for Globe, Smart and Sun subscribers in the Philippines.

Tags: Business , economy , News , Philippine Stock Exchange index



Factual errors? Contact the Philippine Daily Inquirer's day desk. Believe this article violates journalistic ethics? Contact the Inquirer's Reader's Advocate. Or write The Readers' Advocate:


c/o Philippine Daily Inquirer Chino Roces Avenue corner Yague and Mascardo Streets, Makati City, Metro Manila, Philippines Or fax nos. +63 2 8974793 to 94



seo tools

No comments:

Post a Comment