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The CMA declared that the suspension was considered after the GFH announced the sale of a residential property in London, by one of GFHs subsidiary, without mentioning its share in the property. Furthermore, GFH bank used promoting statements reflecting a positive impact on the financial results, however, the bank owns only 3% of the property.

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Amojelar, February 22, 2015 5:28 PM means BUSINESS MANILA - Philippine share prices this week will seek guidance from overseas, particularly the Greek-Eurozone debt talks and the release of US economic data. The local benchmark index last Friday closed at a new record high of 7,825.39, breaking the resistance of 7,800 and valuing the market at 22.16 times earnings. Last Friday's close was the 14th record for the year. "While investors' optimism about the pending release of corporate earnings continue to boost the market, we believe that the declining trading volume, weakening net foreign buying and the forming sell signals from the MACD indicator should pose as warnings to investors that the index is already prone to profit-taking in the near term," AB Capital Securities Inc. said. MACD refers to the moving average convergence divergence, a technical indicator that provides signals on when to buy or sell.

Overseas news seen dictating pace of Philippine stock market trades this week

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