Shares of the Gokongwei-led conglomerate on Friday slid by 12 percent over the past 30 trading days and by 7.31 percent week-on-week to P57 from the P61.5 recorded on May 10.
Analysts pointed to the general pessimism caused by slower economic growth, escalating trade tensions between the United States and China, and uncertainties arising from the May 13 midterm polls as spilling over to the company’s stock price.
Year-to-date, the holding firm grew by 3.4 percent to end at P57 versus P55.1 apiece.
Philstocks Financial Inc. research associate Japhet Louis Tantiangco said he expected positive growth for JG Summit moving forward, driven primarily by property subsidiary Robinsons Land Corp. (RLC) and food-and-beverage arm Universal Robina Corp. (URC).
“We expect stronger consumption this year amid the decelerating inflation,” Tantiangco said, adding that it would help URC in improving its margins. “On the property side, the lower interest rates would help RLC in its operations and expansion plans.”
Forex blog salary 