EXCERPT

Based on data from the Philippine Stock Exchange, around P2.23-billion worth of 77.34 million shares in Ayala Land were traded from May 16 to 20, making it the third most actively traded stock last week.

Shares in the Ayala-led real estate company rose by 5.5% week on week to P29.00 per share on Friday from its P27.50 apiece finish on May 13. However, since the first trading day of the year, the stock has slipped by 16.4%.

“ALI stock has rebounded after a steep drop in performance last week caused by gloomy sentiment in global markets due to rapid rise in inflation in the US, which may lead to further US Fed tightening,” Timson Securities Head of Online Trading Marc Kebinson L. Lood said in a text message.

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