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Sunday, April 22, 2012

PSEI outlook next week april 23-27 2012

PSEI outlook next week april 23-27 2012 ; The Philippine Stock Exchange Index (PSEI) rose 1.16 percent to 5,156.46 points, declining slightly from a new record close of 5,219 on April 18, as growth concerns from China and eurozone debt worries weighed on investors’ minds.

Analysts expect valuations to stay “high” for the week as investors anticipate another round of first quarter earnings from the SM Group. Investors will also be looking at US preliminary growth projections, AB Capital said.

“US recovery has continuously been doubted, these data will be able to make further confirmation of where their economy is heading,” AB Capital said. It pegged the fair value of the PSEI at 5,190.45 in terms of earnings fundamentals. But it noted that technical indicators are more bearish, and a correction would see the measure initially drop to 4,982.

“We only see minor corrections for the week ahead as we think there is still so much liquidity on the sidelines,” AB Capital said. “We recommend investors to hold positions as we think a major correction is yet to occur unless substantial amount of liquidity is taken away or there is significant change in market sentiment.”

• Stocks to watch: AB Capital continues to recommend Lopez power holding firm First Philippine Holdings Corp., its unit Energy Development Corp., and nickel miner Marcventures Holdings Inc.

Investors will also be on the lookout for first quarter earnings reports from SM Group of billionaire Henry Sy.

Source : http://businessmirror.com.ph
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