The stocks of Energy Development Corporation (PSE:EDC) and DFNN, Inc (PSE:DFNN) led last week’s Philippine Stock Exchange (PSE) gainers, with 39.24 percent and 20.51 percent gains, respectively, according to latest market data.
EDC, the large
st producer of geothermal energy in the Philippines and the second-largest in the world, saw its stock last trading at 6.99 a share, bringing its 4-week gain to 32.39 percent.
This, as EDC said its board of directors had approved on Wednesday the voluntary delisting of its common shares from the main board of the PSE.
On the other hand, the stock of DFNN, an IT solutions provider and systems integrator in the country, ended the week at 8.11 a share, to bring its 4-week gains to 20.51 percent.
Joining the top five gainers this week are the stocks of San Miguel Food and Beverage (17.65 percent), Golden Bria Holdings (17.58 percent), and ATN Holdings Inc B (17.50 percent).
ISM Communications Corporation’s stock plunged 14.69 percent this week to become the top loser, followed by Synergy Grid & Development Phils Inc (-11.37 percent), Geograce Resources Philippines (-8.89 percent), TKC Meals Corporation (-8.55 percent), and Philodrill Corporation (-8.33 percent).
The PSE Index was also down 0.18 percent this week while Financial and Holding Firms declined 1.60 percent and 1.62 percent, respectively.
Also Read: Philippine Stock Exchange Not Changing Index Composition
Property stocks gained the most this week with 3.22 percent while Services was up 2.03 percent. Industrial and Mining & Oil also gained 1.97 percent and 0.27 percent, respectively.
Gainers overtook losers this week 116 to 115 while total market capitalization last week reached P16.9 trillion up from P16.8 a week earlier. – BusinessNews.ph
Source: https://www.businessnews.ph/20180812739-philippine-stocks-dfnn-edc/
