The shares of diversified conglomerate Aboitiz Equity Ventures Inc. (AEV) rose week-on-week and concluded the previous trading week among the top gainers. The company saw its shares gain by P2.90 or 6.16 percent to finish at P50 apiece on Friday, prompting an 8.7-percent week-on-week jump. The closing price of AEV also serves as the stock's current 30-day high. Under the agreement, AboitizPower will supply Pelco II with 40 megawatts (MW) of renewable energy for 10 years. Meanwhile, Pangan noted that the stock's current price of P50 is already at overbought level, thus a correction or profit taking could be expected in the near term.

Source: Manila Times September 19, 2021 14:15 UTC