Jollibee, PXP Energy, Global Ferronickel poised to gain from ASEAN Summit

ABS-CBN News

Posted at Nov 15 2017 11:07 AM

Canadian Prime Minister Justin Trudeau visits a Jollibee store upon his arrival in Manila on Nov. 12, 2017 for the ASEAN Summit. Photo from Jollibee Facebook page.

MANILA - Jollibee Foods Corp, PXP Energy and Global Ferronickel Holdings are poised to benefit from the Philippines' hosting of the ASEAN Summit this week, an analyst said Wednesday.

The country's largest fast food operator got free advertising from Canadian Prime Minister Justin Trudeau, who dropped by one of its stores on Sunday, said BPI Securities analyst Riche Lim.

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"I think the brand is strong. It creates a little bit more activity for the name," Lim told ANC's Market Edge with Cathy Yang.

Shares of PXP rallied at the start of the week. The company is seeking to resume joint exploration in the South China Sea with a Chinese partner.

Chinese Premier Li Keqiang was among heads of ASEAN partner countries that attended the meetings in Manila. 

Global Ferronickel signed a cooperation agreement with Russia's Vi Holding LLC, whose technologies can help the Philippines' second largest nickel producer cut costs.