Market Reacts to El Niño Concerns; Utility Resilience Cited
What happened
Shares of Maynilad Water Services, Inc. increased last week, outperforming the broader market, as analysts noted the utility’s preparations for El Niño. The company announced nearly P10 billion in rehabilitation and improvement works at its La Mesa facilities, including upgrades to La Mesa Water Treatment Plant 1 to increase its peak raw water turbidity design capability. Maynilad was the 12th most actively traded stock last week.
From bworldonline.com
Why it matters
Investor interest in the water utility has been supported by its investments in supply resilience amid concerns over drier conditions associated with El Niño. The market is tracking how utility preparedness affects stock performance in light of climate predictions.
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Who's involved
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The entities involved
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El Niño
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Related events
- S&P reported that hot weather linked to El Niño weighed on the Philippines' manufacturing Purchasing Managers’ Index (PMI).
- Lithos Manufacturing promotes systems to address water scarcity in Luzon due to the confirmation of a strong El Niño event.
- ASEAN and Teodoro chair a meeting in Cebu City to address the threat of Super El Niño to regional food and energy security.
- El Niño is causing water scarcity risk in the Philippines, prompting conservation measures by DENR and PNP.