Philippines shares eye inflation data

Philippines share prices will likely be influenced by domestic inflation data for July as well as by oil prices overseas, analysts said Friday. "Investors will have to take their cue from the inflation rate in the previous month," which will be announced next week, said Ron Rodrigo of Daiwa Securities.
"They expect double-digit inflation to remain," he said.
If inflation exceeds the 9-11 percent range that the Central Bank has forecast for the entire year, "it would make them more jittery about going back to the market," Rodrigo said. For the week to August 1, the composite index rose 71.49 points or 2.8 percent to 2,584.21.
Average daily turnover rose to 2.402 billion pesos (54.32 million dollars) this week from 2.038 billion pesos in the previous week.