Market to track Q1 earnings results

Philippine shares are poised to trail the stream of first-quarter corporate earnings due out this week, anticipated to be favorable by the market given the “better-than-expected” results disclosed by BDO Unibank Inc. on Friday.

“We expect the local equities market to trade between 7,850 and 8,030 [points] with an upward bias as companies start to announce first-quarter results,” BPI Asset Management said in its weekly market review. “We are expecting a mostly positive performance from the corporates as they benefit from sustained low oil prices and a low interest [rate] environment.”