Jonas Ravelas: 'Ondoy' to spike fastfood, cellphone, car sales
Posted at 09/29/2009 3:22 AM
Jonas Ravelas, chief market strategist of BDO Unibank chatted with Ricky Carandang on the estimated 30% impact of typhoon 'Ondoy' to the 1.3% drop of the stock market on Monday. While investors are still digesting the impact of the typhoon, especially on agriculture and consumption appetite in the run up to the Christmas season. He noted though that car sales is likely to pick up only in 3 to 6 months, despite a good number of cars submerged in floodwaters over the weekend. Nonetheless, more natural calamities in the country would mean there would always be need to stock up on relief goods, which will benefit the likes of Jollibee, McDonalds, firms that produce canned goods and noodles.