Quick from around the market
Cebu Landmasters [CLI 2.69 1.51%] [link] guides that it may set “performance records” in 2022 based on quick project turnarounds and smooth construction progress of 21 projects. CLI’s CEO reiterated the company’s goal of achieving 20% growth for 2022, and projected that CLI would set new sales records in 2022 during the shareholder meeting on Monday. While the company keeps growing, the stock is still down from 45% from its 2021 all-time highs in the P4.00/share range. When will this out-performance show up on the chart?
Inflation [link] rose to 5.4% in May, and the government has revised its estimated range upward for the average inflation rate in 2022 to “3.7%-4.7%”. In response, the BSP has signalled its interest in two rate increases to get the interest rate up to 2.75% by August. There is no relief in sight.
The IATF [link] said that it will allow shops to operate at 100% under Alert Level 1, but “subject to presentation of proof of full vaccination before participating in mass gatherings or entry into indoor establishments”. Great for malls and restaurants.
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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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