Investors likely to focus on Middle East, rate cuts

News Snapshot:

CONTINUED conflict between Israel and Iran could drive share prices lower this week, analysts said, but a likely Bangko Sentral ng Pilipinas (BSP) rate cut on Thursday may provide a lift heading into the weekend. April overseas Filipino worker remittance data due today could also boost sentiment, they said, adding that investors will also be looking at the results of a Federal Reserve meeting for signs regarding the direction of US interest rates. The benchmark Philippine Stock Exchange index (PSEi) closed 0.29 percent higher week-on-week last Friday at 6,395.59 but remains down 2.0 percent since the start of the year....