Stock picks: Ayala Corp, GT Capital, SM

ABS-CBN News

Posted at Jul 21 2016 10:25 AM

MANILA – Unicapital Securities research head Lexter Azurin recommended on Thursday shares of three of the country’s biggest conglomerates, whose businesses are expected to benefit from robust economic growth.

Ayala Corp., GT Capital Holdings Inc. and SM Investments Corp. stocks “are good to hold on to in the long term given the positive outlook in the next few years,” Azurin told ANC’s “Market Edge with Cathy Yang.”

The Philippine Stock Exchange Index was down 0.14 percent to 8,041.13 points in early trading Thursday after closing at a fresh 15-month high on Wednesday.

Azurin said the main index was poised to test new highs, but at the same time advised investors to be cautious with the August “ghost month” or trading lull approaching.