The upsurge from yesterday’s closing continued its rally. The index was up by 1.76%, with broader share index moving upward strongly. Majority of the strong movement were noted from the mid cap and small cap stocks.

Most Blue chip stocks were also in the green Zone.

1EMP6.15%

2SMPH4.64%

3BDO4.23%

4JFC3.87%

5ICT3.79%

6DMC3.22%

7RRHI2.61%

8AEV2.60%

9MBT2.49%

10BLOOM2.19%

11SM2.06%

12SECB1.82%

All index sector posted strong gains for today with the finance led by Banco de Oro.

Earnings report started to come up yesterday and a score of stocks showed strong recovery for the second half of the year as compared to last year’s performance. This is to be expected as this time of the year we were in heightened restrictions.

Most of the stocks were upbeat with good news coming out;

Semirara Mining and Power Corporation’s consolidated net income for the first six months of 2021 surges by 181% to P6.28 billion

SM Prime Holdings (SMPH) reported P11.6B consolidated net income in 1H21, 12% higher from the same period last year. This was on the back of improvement in 2Q net income to P5.2B from P2.1B in 2020.

Phoenix Petroleum Philippines, Inc. (PNX) posted a net income of P132M for the second quarter of the year, higher by 9% quarter-on-quarter on the back of increased local sales of its fuel and liquified petroleum gas (LPG) products

Double Dragon Properties (DD) will be buying back up to P500M worth of the company’s common shares through internally generated funds. The buyback program will commence on July 30, 2021 and end on July 30, 2022

BDO P21.4bn (+398%), 2Q P11bn vs (P4.5bn) in 2Q20, +6% vs. 1Q) Annualised EPS P9.76, 11x

JFC: Has opened 2 new stores in California, in line with its plan to reach 500 stores throughout North America in the next 5 to 7 years.

Bloomberry 2Q2021 EBITDA reaches P1.0 billion despite limited operating days; First half 2021 EBITDA higher by 63% year-over-year

PLC P591.8mn (+987%), 2Q P281mn vs (P284mn), -9% vs 1Q Annualised EPS P0.04, 10x

AyalaLand Logistics Holdings Corp. 6-Month Net Income Up 59% to P247M. Booked 1H21 net income of P247 Mn, up 59% versus the same period last year.

ALI ALI 1H21 income up 34%, presales jump 45% in 2Q21

The index ended with Net Foreign buying of 108.5Million

The PSE index move up by 2.81%  but albeit due to selective bargain hunting of blue chip stocks that had massive drop last Friday trading.

Bargain hunting during the pre-close period sent the index upward by as much as 1.4%. Todays trading showed good recovery for some of the Blue chip stocks. The index close at 6,446.31

Universal Robina corporation led the group with an upward movement of 6.55% reversing its big drop last Friday due to the news of selling its business in Australia and New Zealand Intersnack. On the other side of the disclosure as well, is its massive share buy back of 3 Billion pesos and 5% increase in dividends value.

1URC6.55%

2JGS5.36%

3BDO4.41%

4ALI3.98%

5SM3.79%

6ICT3.54%

7BPI3.11%

8SMPH2.70%

9TEL2.61%

10MBT2.56%

11SMC2.40%

12AC2.40%

13AEV2.39%

14EMP2.29%

15GLO2.15%

Mining led the drop of the index with -2.55% while holdings (2.97%) and property sector (2.89%) led the index movement

General sentiment of the market is still bearish a we are still about to enter the more strict enhanced community quarantine starting August 6-20, 2021

New vaccines arrival this Aug 3 from COVAX facility could help alleviate a bit the fearfulness on the Delta Variant type Covid virus. This batch of vaccines will come from the distribution centers managed by World Health Organization

On his speech Eduardo Ano said “Yes, bukas darating (they will arrive tomorrow) and the President will be one of those who will welcome the arrival of the vaccines,”

Most of these vaccines will be distributed in national capital region

Last week metro manila mayors’ initiation of implementing ECQ was agreed upon by the national government as the rising cases of Covid is expected to increase by the coming few weeks. Local transmission of the Delta Variant have been noted from the past few days as more data are coming out from the Genome Sequence Center.