LAST week: The benchmark Philippine Stock Exchange Index gained 23.82 points or 0.93 percent to 2,578.57 at the end of Friday’s trading. The stocks’ modest technical rally was aided by a decline in world oil prices. Market sentiment, however, was not stirred by the said recovery as only bigger-cap blue-chip companies gained. Second- and third-liners were hit very hard by profit-takers. It was the property sector that got the hardest beating as it is sensitive to rising inflation and interest rates.

THIS week: Jose Vistan Jr., a senior analyst at AB Capital Securities, expects market volatility to be aggravated by a number of important events. For instance, the US Federal Open Market Committee is going to meet and decide on US monetary policies.“Market participants are now debating on whether the Fed will reverse its relaxed policies and revert back to raising interest rates.  Whatever the decision will be, it will definitely rock the major markets next week. Market players will also be monitoring key numbers like consumer confidence, energy and inflation data. For now, investors are quicker on pulling the sell trigger as there are worries that the rise in oil prices and prospects of higher interest rates will derail any chance of a recovery,” Vistan explained.
STOCKS to watch: The mining sector is seen to stay afloat in this weak market condition, some traders said. Vistan, for his part, advised traders to lighten up on commodity stocks as the contractionary moves in China and the US may dampen demand for commodities like energy and base metals. “We remain bullish on the medium to long term for metals.”

Property firms raise prices to recoup soaring costs 

THE continued increase in prices of construction materials, mainly cement and steel, has prompted property companies to raise unit prices of their projects.

SM unit eyes hotel sites in Palawan, Bohol

THE rising number of tourist arrivals in the country is encouraging the hotel division of SM Investments Corp. (SMIC) to look for sites in Palawan and Bohol for potential expansion.

Splash sets P50-million capex budget for 2008

IT looks like the beauty business is not affected by the economic difficulties that have been plaguing most industries these days.

LAST week: The benchmark Philippine Stock Exchange Index gained 23.82 points or 0.93 percent to 2,578.57 at the end of Friday’s trading.

Information-technology (IT) infrastructure solutions firm EMC Corp. is offering a storage area network (SAN) system for small and medium enterprises (SMEs) that can be readily enlarged according to a company’s specifications and operations.

THE first open-source software summit opens tomorrow, with the event expected to bring together approximately 500 industry stakeholders, proponents and developers.

OH my. The Philippine Export-Import Bank (Philexim, or formally known as Trade Investment Development Corp. of the Philippines) seems to have awakened from a long sleep since Francisco Magsajo stepped in as president this year.