Philippine stocks: Gainers, losers, market-moving news – January 2022

Manila Water Company and the provincial government of Pangasinan signed a concession agreement and broke ground for an P8-billion bulk water supply project.

For the next 25 years, Manila Water, through its subsidiary Manila Water Philippine Ventures (MWPV), will build infrastructure which will source water from the Agno River and add some 200 million liters of water per day to Pangasinan households.

Find out which cities and municipalities will benefit here.

Inflation and elections are among the factors that investors should look at closely to post the most gains in 2022, said Metrobank’s investment arm First Metro Investment Corporation (FMIC).

In a briefing on Tuesday, January 11, FMIC head of research Cristina Ulang said corporate profits are projected to bounce back this year, with earnings per share growth hitting 35%. 

Given that, an upside of 13% to 15% is seen for the Philippine Stock Exchange index, or levels reaching around 7,900 to 8,100.

Check out FMIC’s stock picks here.