Connect with us

Business

Stock market to remain cautious due to new COVID variant – Manila Bulletin

Published

on


The local stock market is expected to remain cautious this week as nervous investors wait for more news on South Africa’s new variant of COVID that could have the potential to cripple the global economy again.

PSEI-NEW-PHOTO-1024 × 683

For next week, investors may trade more cautiously amid COVID-19 concerns, said Japhet Tantiangco, Philstocks Financial’s senior research supervisor.

He noted that Sentiment could be weighed by fears over the new variant of COVID-19, Omicron, and the possibility that it will cause another wave of infections around the world.

At the same time, investors are expected to monitor the government’s decision on the country’s social restraint measures by December, Tantiangco added.

He said investors would monitor the government’s strategy for reopening the local economy in light of the worrying new COVID-19 variant.

Online brokerage firm 2TradeAsia.com said that with the threat of the new variant, relaxed policy measures such as allowing minors more mobility and reopening schools will be called into question, as they will make the management of a possible peak of much more difficult cases. .

More visibility on the new variant will be paramount for players aiming to position themselves before 2022, as it could mean the difference between going all-out for cyclics and putting defenses and lockdown games as solid alternatives (for early 2022, at least), he added. .

However, 2TradeAsia.com said it was not all gloomy, unlike the almost limited movement of the PSEi over the past two weeks. For one, the IPO market has never been so busy in years, and capital raising keeps pace with mergers and acquisitions, a welcome change after a year of resizing.

In addition, he said that the increase in consumer spending during the holiday season and the decline in the year-over-year base mean high earnings expectations for the fourth quarter, which could also push to an accumulation at the end of the year.

The brokerage has warned Brace investors of the volume aberrations as the IPO pipeline is not yet exhausted.

BDO Chief Markets Strategist Jonathan Ravelas said last week’s close at 7,278.44 highlights the inability of markets to maintain gains above the 7,350-7,425 levels.

Expect the market to consolidate into the 7,200 and 7,400 levels in the near term. A break below the 7,200 level will signal that a short-term high is in place at 7,475.75 (November 10 high) and could lead to further losses towards the 7,000 levels, he noted.

Abacus Securities Corporation and COL Financial are keeping an eye on developments at newly listed company The Keepers Holdings Inc. due to a possible acquisition.

Our considered opinion is that management will soon enter into an agreement to acquire Williams & Humbert (W&H) which produces, among others, Alfonso Brandy. Mr. Lucia Co already personally owns a 30% stake in W&H which he purchased in July 2018, said Abacus.

He noted that, The acquisition makes sense as KEEPR needs to secure the supply of its most popular product. We also expect significant cost savings and synergies after the acquisition.

It’s a theory, but if we’re right, it should further increase the value of the stock. Buy KEEPR, said Abacus.

Citing new sources, COL also said that KEEPR is expected to use most of its proceeds from the follow-up offering to acquire Bodegas William & Humbert (W&H).

We believe that the handover between KEEPR as a pure alcohol distribution company could be reduced relative to Emperador if it acquires W&H, he added.

Meanwhile, COL favors Alliance Global Group Inc., GT Capital Holdings, LT Group and Metro Pacific as they are laggards in the reopening game.

In recent weeks, the PSEi has gained traction thanks to the relaxation of quarantine restrictions and the encouraging drop in COVID-19 cases nationwide. Many blue-chip holding companies such as AC and SM have led the promising price action of PSEi, COL said.

He noted, however, that other holding companies remained sluggish despite improving their fundamental outlook and cheap valuations. Given that we believe they will most likely catch up with their larger cap peers, we find AGI, GTCAP, LTG and MPI extremely attractive as the country returns to normal and the stock market enters a new uptrend.


SUBSCRIBE TO THE DAILY NEWSLETTER

CLICK HERE TO JOIN

Sources

1/ https://Google.com/

2/ https://mb.com.ph/2021/11/28/stock-market-to-remain-cautious-due-to-new-covid-variant/

The mention sources can contact us to remove/changing this article

What Are The Main Benefits Of Comparing Car Insurance Quotes Online

LOS ANGELES, CA / ACCESSWIRE / June 24, 2020, / Compare-autoinsurance.Org has launched a new blog post that presents the main benefits of comparing multiple car insurance quotes. For more info and free online quotes, please visit https://compare-autoinsurance.Org/the-advantages-of-comparing-prices-with-car-insurance-quotes-online/ The modern society has numerous technological advantages. One important advantage is the speed at which information is sent and received. With the help of the internet, the shopping habits of many persons have drastically changed. The car insurance industry hasn't remained untouched by these changes. On the internet, drivers can compare insurance prices and find out which sellers have the best offers. View photos The advantages of comparing online car insurance quotes are the following: Online quotes can be obtained from anywhere and at any time. Unlike physical insurance agencies, websites don't have a specific schedule and they are available at any time. Drivers that have busy working schedules, can compare quotes from anywhere and at any time, even at midnight. Multiple choices. Almost all insurance providers, no matter if they are well-known brands or just local insurers, have an online presence. Online quotes will allow policyholders the chance to discover multiple insurance companies and check their prices. Drivers are no longer required to get quotes from just a few known insurance companies. Also, local and regional insurers can provide lower insurance rates for the same services. Accurate insurance estimates. Online quotes can only be accurate if the customers provide accurate and real info about their car models and driving history. Lying about past driving incidents can make the price estimates to be lower, but when dealing with an insurance company lying to them is useless. Usually, insurance companies will do research about a potential customer before granting him coverage. Online quotes can be sorted easily. Although drivers are recommended to not choose a policy just based on its price, drivers can easily sort quotes by insurance price. Using brokerage websites will allow drivers to get quotes from multiple insurers, thus making the comparison faster and easier. For additional info, money-saving tips, and free car insurance quotes, visit https://compare-autoinsurance.Org/ Compare-autoinsurance.Org is an online provider of life, home, health, and auto insurance quotes. This website is unique because it does not simply stick to one kind of insurance provider, but brings the clients the best deals from many different online insurance carriers. In this way, clients have access to offers from multiple carriers all in one place: this website. On this site, customers have access to quotes for insurance plans from various agencies, such as local or nationwide agencies, brand names insurance companies, etc. "Online quotes can easily help drivers obtain better car insurance deals. All they have to do is to complete an online form with accurate and real info, then compare prices", said Russell Rabichev, Marketing Director of Internet Marketing Company. CONTACT: Company Name: Internet Marketing CompanyPerson for contact Name: Gurgu CPhone Number: (818) 359-3898Email: [email protected]: https://compare-autoinsurance.Org/ SOURCE: Compare-autoinsurance.Org View source version on accesswire.Com:https://www.Accesswire.Com/595055/What-Are-The-Main-Benefits-Of-Comparing-Car-Insurance-Quotes-Online View photos