THE stock market’s direction this week will be influenced by first quarter growth results and the outcome of a Monetary Board meeting scheduled this Thursday, analysts said. “We only hope that GDP results in turn do not disappoint,” Perez added. IB Gimenez Securities, Inc. research head Joylin Telagen said trading could move “sideways” ahead of Thursday’s news. Online brokerage firm 2TradeAsia.com also advised investors to expect volatility with regard to first quarter earnings reports to be released this week. Companies scheduled to detail their first quarter performance this week include conglomerates Ayala Corp., San Miguel Corp. and telecommunications giant PLDT, Inc.

Source: Manila Times May 06, 2018 16:30 UTC