28 March 2011
USD/PhP: 43.45 + 0.145 PSEi: 3913.98 + 38.17
USD/JPY: 81.72 PFINC: 877.18 +9.55
EUR/USD: 1.4078 BDO: 49.90 - 0.50
GBP/USD: 1.5986 BPI: 55.05 + 1.25
PDSTF3M: 1.2942 MBT: 63.20 + 0.95
Prices as of 4:00pm Source: Bloomberg, Reuters
PH stocks up nearly 1%
By Doris Dumlao
Philippine Daily Inquirer
MANILA, Philippines—Buoyant global markets and selective stock plays set the stage for an upbeat local stock-market opening on Monday.
The main-share Philippine Stock Exchange index gained by 38.17 points, or 0.98 percent, to finish at 3,913.98.
The gains were led by the financial and property counters, which both surged by over 1 percent. All other counters were also up.
Value turnover amounted to P4.26 billion. There were 78 advancers as against 40 decliners and 46 unchanged stocks.
Telco stocks Digitel and PLDT led the day's gains followed by Digitel's parent firm JG Summit. Traders said Digitel is becoming more interesting to investors based on both corporate fundamentals and a potential merger and acquisition play.
Gaming stocks Belle and Leisure & Resorts were likewise up on favorable prospects for the privately run casino businesses.
Other stocks that traded favorably were Meralco, Ayala Land, Metro Pacific Investments, Semirara Mining, Metrobank, Ayala Corp., DMCI, AGI and SM Prime Holdings.
On the other hand, EDC, Cebu Air, Aboitiz Power, FPH and Globe Telecom traded in the red.
Jonathan Ravelas
Chief Market Strategist
(632) 858-3145
Rhys Cruz
Junior Researcher
(632) 858-3001
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