LAST week: Stock prices tumbled Friday on fears of rising inflation and an economic recession in the US. The attraction of investing in the shares just wasn’t there as evidenced by the low value turnover. Confidence among traders sagged as the market wrestled with surging prices of commodities and a troubled political front. The benchmark index lost 101.26 points, or 3.2 percent, week-on-week to 3,028.73.

THIS week: Senior analyst Jose Vistan of AB Capital Securities said the equities market will remain bearish in the coming weeks in the absence of a strong catalyst that could reverse negative sentiments and help spur a rally.

“The PSEi, which formed a bearish big black candle last Friday, is testing its major support of 3,060,” Vistan said. A breach might pull the index down the 2,900 level. “Although the downside risks should be capped in the near term, bargain hunters are not in a hurry and they prefer to adopt a wait-and-see mode,” he added.

Strategist Jonathan Ravelas of BDO Universal Bank said last week’s close serves as a hint that the market may retest the 3,000-level with 2,950 as a major support in the week.

STOCKS to watch: Traders said mining and property stocks might gain the confidence of players despite the uncertainties.

THE goal of Philippine Long Distance Telephone Co. (PLDT) Group this year is to add at least 5 million mobile phone subscribers and about half a million for broadband.

Six PSEi stocks among last week’s losers

KEPPEL Philippines Holdings Inc. was the market’s biggest gainer last week. It traded only for two days: March 4, when it opened and closed at P1.80 on a turnover of P63,000; and March 3, when it traded at P1.56 throughout the session on a turnover of P54,600.

A MONTH after saying it wants to invest here, Radiant Studios, the local unit of US-based Radiant ERA Holdings Llc., kicked off its first film project costing P200 million ($5 million).

ISRAELI robotics company InRob Tech Ltd. announced it would set up shop in Makati City, where its Philippine partner, CP Communication Services Inc. (CP Comm), operates.

LAST week: Stock prices tumbled Friday on fears of rising inflation and an economic recession in the US.

Nobody knew who really started it but, at the end of the night, former finance undersecretary Milwida Guevara was P13,000 richer. The amount- of mostly P100 bills- was a response to her speech as the Haydee Yorac awardee that even P100 will go a long way to help a child get a better education.