SUMMARY
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MANILA, Philippines – Share prices of Ayala companies started recovering on Friday, June 7, after successive declines earlier in the week following the May 31 Serendra blast.
As of 12:26 PM, share prices of property arm Ayala Land, Inc. (ALI) increased by 3.42% to P31.75 per share.
On Monday June 3, A shares went down by 7.26%, making it the 7th top loser in the Philippine Stock Exchange main index.
Stock prices of parent firm Ayala Corp., on other hand, also went up by 1.22% to P624 per share after the morning trade Monday.
The recovery was expected despite the Serendra incident, according to COL Financial research head April Lee-Tan.
“In the long term, I think (the blast) will not completely affect (Ayalas’) stocks,” she said in an earlier interview. – Rappler.com
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