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Stock Picks for This Week: Poor first-half earnings.
Stock: La Tonde-a Distillers, Inc. (LTDI)
Recommendation: SELL
It was another sad story in the stock market last week. The Philippine Stock Exchange composite index (Phisix) plunged to its lowest this year after the bleak prospects in the economy coupled with uninspiring first-half corporate earnings spurred another round of heavy selling in the local bourse.
The Phisix closed 1,278.40 last Thursday, only slightly higher than 1,267.69 closing level on Oct. 23, 2000 when the market was severely beaten by illegal gambling scandal linked to then president Joseph Estrada.
The gloomy outlook in the market is again in the air as most investors, …
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- THIS WEEK: Stock Picks of the Week.
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Magazine article from: BusinessWorld (Philippines)
October 2, 2000
700+ words
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