Philippine Stocks Are Sure Bet to Top Analyst on Vote Spend

Presidential elections are a boon for Philippine stocks.

The nation’s benchmark equity index has climbed an average 20 percent in each of the years when the past four polls have been held, compared with an annual average of 14 percent since 1992, the date of the first elections since the ouster of dictator Ferdinand Marcos. The battle for the presidency will salvage stocks this year as spending by politicians and officials spurs profit growth at media and consumer companies, according to Luz Lorenzo, the nation’s top-ranked analyst.