PetroVietnam Group led off on Thursday with an announcement that 16 of its subsidiaries and affiliates had achieved strong earnings in the first nine months of the year, including listed affiliates like PetroVietnam Finance, Phu My Fertilisers, PetroVietnam Insurance and PetroVietnam Drilling.
Detailed earnings of these companies, plus those of PetroVietnam Gas – soon to make its initial public offering (IPO) – were expected in the coming days.
But the head of analysis at Viet Capital Securities Co, Hoang Thi Hoa, predicted that third-quarter earnings wouldn't have much impact on the markets. The earings reports might assist in some sessions, but much more supportive news was needed to revive the sluggish markets, she said.
Hoa said that the markets were now only fixated on third-quarter earnings due to a shortage of supporting economic data. In fact, volatility in foreign exchange and high inflation were tending to depress the market.
Au Viet Securities Co deputy director Le Anh Thi said that unaudited third-quarter results were likely to be largely ignored by investors in the current market climate, with audited results not forthcoming until long after the conclusion of the fourth quarter, i.e., well into next year.
A SME Securities Co expected some of the best results in consumer goods and services shares, educational publishing and healthcare. The steel industry was also expected to perform well on high prices and rising demand during the upcoming construction season.
Detailed earnings of these companies, plus those of PetroVietnam Gas – soon to make its initial public offering (IPO) – were expected in the coming days.
But the head of analysis at Viet Capital Securities Co, Hoang Thi Hoa, predicted that third-quarter earnings wouldn't have much impact on the markets. The earings reports might assist in some sessions, but much more supportive news was needed to revive the sluggish markets, she said.
Hoa said that the markets were now only fixated on third-quarter earnings due to a shortage of supporting economic data. In fact, volatility in foreign exchange and high inflation were tending to depress the market.
Au Viet Securities Co deputy director Le Anh Thi said that unaudited third-quarter results were likely to be largely ignored by investors in the current market climate, with audited results not forthcoming until long after the conclusion of the fourth quarter, i.e., well into next year.
A SME Securities Co expected some of the best results in consumer goods and services shares, educational publishing and healthcare. The steel industry was also expected to perform well on high prices and rising demand during the upcoming construction season.
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