Philippine stocks, except for mining and oil, posted gains this week, with the Philippine Stock Exchange Index (PSEi) closing 1.38% higher at 7,514.22 points and All Shares gaining 1.27% to 4,491.73 points as the country is all set for the coming in of the new government.
A Brown Company Inc (PSE:BRN) leads this week’s gainers with a 17.65% weekly change to trade at 1.40 a share. The stock’s 4-week comparative price change now stands at 33.33%. The company did not issue any disclosure during the week.
Da Vinci Capital Holdings, Inc (PSE:DAVIN) also did not issue any disclosure this week but the stock took the second spot in the weekly top price gainers with a 16.88% gain. The stock ended the week trading at 5.40 a share.
Premier Horizon Alliance Corp (PSE:PHA), the first publicly company engaged in the production of motion pictures and is now a holding company, posted a 15.38% weekly gain to bring its 4-week comparative price change to 12.50%.
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Premier Horizon, which ended the week at 0.450 a share, disclosed this week that it is launching the West Palawan Premiere (WPP) project, a master-planned community that brings together serene mountainside resorts and gorgeous beach retreats.
Max’s Group, Inc (PSE:MAXS)’s stock also performed strong this week with a seven-day gain of 15.10% to end the week at 28.20 each.
Dave Fuentebella, director and chief finance officer of the firm, said that for the second quarter of the year, net income would be similar to its first three-month performance where it realized P162.3 million or 8 percent higher than the P150.8 million a year earlier.
Philippine Long Distance Telephone Company (PSE:TEL)’s announcement of a PLDT-Globe purchase of San Miguel Telecommunications business sent its stock gaining 13.66% this week to trade at 1,980 a share.
Joining the weekly top price gainers are Grand Plaza Hotel Corporation (PSE:GPH), 12.31%; Citystate Savings Bank (PSE:CSB), 11.53%; Phoenix Semiconductor Philippines (PSE:PSPC), 10.43%; LT Group Inc (PSE:LTG), 10.24%; and AgriNurture Inc (PSE:ANI), 10%. – BusinessNewsAsia.com