PHStocks Week in Review: The Libya Effect

The continuing crisis in the Middle East, in particular the political unrest in Libya—the country that accounts for 2% of the global oil supply—dealt a severe beating to the local stock market this week. The bellwether Philippine Stock Exchange index (PSEi) slid for five consecutive trading days since Friday the week before, before slightly recovering at the close of yesterday, brought about by news of easing oil prices.

The Libya effect brought down the PSEi to 3,737.04 points this week, down 2.97% from 3,851.24 points it gained in the prior week. The wider all-shares index likewise fell, reaching 2,828.47 points, down from 2,976.47 points.

On a sectoral basis, all indices were down, except for the Mining & Oil index, which managed to pull a slight 0.25% gain. The Property index suffered the biggest drop at 5.21%, followed by the Services index, which slid by 4.18%.

Amid the weak performance this week, stocks still gained decent price increases for their worth. Below are the top 20 stock price gainers for the week:

  1. Mariwasa Siam Holdings Inc. (PSE: MMI): PhP0.74, +45.1%
  2. Apex Mining Co. Inc. “B” (PSE: APXB): PhP4.80, +37.14%
  3. AgriNurture Inc. (PSE: ANI): PhP9.80, +16.11%
  4. Manila Mining Corp. “A” (PSE: MA) PhP0.033, +13.79%
  5. Manila Mining Corp. “B” (PSE: MAB): PhP0.034, +13.33%
  6. Manila Bulletin Publishing Corp. (PSE: MB): PhP0.70, +12.9%
  7. Philippine Estates Corp. (PSE: PHES): PhP0.085, +10.39%
  8. Phinma Corp. (PSE: PHN): PhP12.60, +9.57%
  9. Megawide Construction Corp. (PSE: MWIDE): PhP8.55, +9.06% 
  10. Philippine Racing Club Inc. (PSE: PRC): PhP6.90, 7.81% 
  11. Oriental Petroleum and Mineral Corp. “B” (PSE: OPMB): PhP0.014, +7.69%
  12. The Philodrill Corp. (PSE: OV): PhP0.015, +7.14% 
  13. First Metro Investment Corp. (PSE: FMIC): PhP38.50, +5.77% 
  14. Empire East Land Holdings Inc. (PSE: ELI): PhP0.76, +5.56% 
  15. Asia Amalgamated Holdings (PSE: AAA): PhP0.40, +5.26% 
  16. PetroEnergy Resources Corp. (PSE: PERC): PhP6.50, +4.84%
  17. Anchor Land Holdings Inc. (PSE: ALHI): PhP11.50, +4.55%
  18. Seafront Resources Corp. (PSE: SPM): PhP1, +4.17% 

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.