24 May 2011
USD/PhP: 43.40 - 0.03 PSEi: 4227.08 - 36.11
USD/JPY: 81.88 PFINC: 961.00 - 1.31
EUR/USD: 1.4083 BDO: 58.00 + 0.40
GBP/USD: 1.6141 BPI: 58.00 + 0.35
PDSTF3M: 2.1904 MBT: 71.85 - 0.55
Prices as of 4:00pm Source: Bloomberg, Reuters
PH stock prices continue falling
By: Doris C. Dumlao
Philippine Daily Inquirer
MANILA, Philippines—Local stock prices tumbled further on Tuesday as investors were jittery over recent financial uncertainties.
The main-share Philippine Stock Exchange index was down by 36.11 points or 0.85 percent to 4,227.08. This reflected the gloomy sentiment across global markets given worries over the lingering European fiscal crisis.
The mining/oil counter and property counters led the day’s downturn, falling by 3.6 percent and 2.43 percent, respectively.
Value turnover was heavy at P8 billion.
There were only 31 advancers as against 110 decliners while 33 stocks were unchanged.
The index was led lower by AGI, Lepanto A, DMCI, Metrobank, Megaworld, First Gen and PLDT.
Non-index stocks Cebu Air and San Miguel Corp. also declined in heavy trade.
Among the few index stocks that bucked the downturn were Aboitiz Power, Banco de Oro, JG Summit, AEV and Globe Telecom.
BDO UNIBANK, INC.
Jonathan Ravelas
Chief Market Strategist
(632) 858-3145
Rhys Cruz
Junior Researcher
(632) 858-3001
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