19 May 2011
USD/PhP: 43.17 - 0.06 PSEi: 4297.93 - 5.38
USD/JPY: 81.73 PFINC: 966.29 + 6.30
EUR/USD: 1.4221 BDO: 58.95 + 0.30
GBP/USD: 1.6136 BPI: 58.15 + 0.85
PDSTF3M: 2.3327 MBT: 70.70 + 0.45
Prices as of 4:00pm Source: Bloomberg, Reuters
PH stocks dip below 4,300
By: Doris C. Dumlao
Philippine Daily Inquirer
MANILA, Philippines—Local stocks were a tad lower on Thursday, pulling back the main index below 4,300, as investors pocketed gains after the previous day’s run-up.
The main-share Philippine Stock Exchange index gave up 5.38 points or 0.12 percent to finish at 4,297.93. Investors also turned cautious amid reports that the first quarter economic contraction of disaster-stricken Japan was worse than expected.
Trading was mixed across counters but the losses incurred by the industrial, holding firm and services sub-counters negated the modest gains posted by the financial, property and mining/oil counters.
Value turnover was heavier at P5.99 billion compared to previous days. Despite the overall index decline, there were 65 advancers that had beaten 52 decliners while 54 stocks were unchanged.
Lepanto “A,” SM Investments, ICTSI and Aboitiz Power led the index lower while San Miguel Corp. and Manila Mining “A” also traded in the red.
On the other hand, banking giants BDO and Metrobank tempered the index losses, alongside DMCI, AGI and Philex. Second-liners Cebu Air, Belle, Atlas Mining and Semirara also advanced.
BDO UNIBANK, INC.
Jonathan Ravelas
Chief Market Strategist
(632) 858-3145
Rhys Cruz
Junior Researcher
(632) 858-3001
No comments:
Post a Comment