Quick takes from around the market
PetroEnergy Resources [PERC 4.68 3.51%] [link] received DOE and DENR approvals for two new solar projects. The Yuchengco Family’s energy arm disclosed that it is nearing a final investment decision on the two projects, pending “closing of on-going discussions with selected contractors and project lender”. This is a family that can move quickly, and is one to watch.
Raslag [ASLAG 2.02 1.51%] [link] ended its stabilization period in positive territory. The stab fund was active throughout the period, as ASLAG struggled at times to hold on to its post-IPO gains. The ability of the company’s insiders to perform the same stabilization role will be constrained by ASLAG’s shrinking public ownership percentage.
BSP [link] to consider bigger interest rate hikes to tackle inflation. June inflation came in at 6.1%, and the BSP said that inflation will remain “elevated” for “the coming months”. Analysts think that inflation has not yet peaked, and that even if it peaks in October/November of this year, it will remain elevated for the remainder of 2022 and well into 2023. Commodity prices (like oil and wheat) are the main driver of this inflation.
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Merkado Barkada's opinions are provided for informational purposes only, and should not be considered a recommendation to buy or sell any particular stock. These daily articles are not updated with new information, so each investor must do his or her own due diligence before trading, as the facts and figures in each particular article may have changed.
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