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Saturday, January 28, 2006
Dealers see prices merging next week
MANILA - Share prices are expected to consolidate in the coming week in the absence of major market developments, dealers said yesterday.
“There will still be consolidation” due to domestic political concerns and the typical lack of activity in the market over the Lunar New Year holiday, said James Lago of Westlink Global Equities.
Concerns of possible political destabilization plots have spread in the country in recent weeks.
Manny Cruz of Belson Securities said next week, interest in property on the majors, such as Ayala Land, Megaworld and Filinvest, should give a boost as investors take positions ahead of results.
For the week to Jan. 27, the composite index rose 13.64 points or 0.6 percent to 2,121.89 points.
Average daily turnover rose to 3.35 billion shares worth P1.015 billion from 2.014 billion shares worth P1 billion in the previous week.
The market is closed Monday and Tuesday for the Lunar New Year break and will reopen Wednesday. (AFP)
For Bisaya stories from Cebu. Click here. (January 28, 2006 issue)
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