Philippine Markets: 25 August 2011

25 August 2011 

USD/PhP:          42.55                        PSEi:             4342.69                        - 23.76 

USD/JPY:           76.97                        PFINC:                   988.17                        - 1.42 

EUR/USD:         1.4410                        BDO:                  59.00                        - 0.40 

GBP/USD:         1.6374                        BPI:                  57.95                        - 0.05 

PDSTF3M:         1.1250                        MBT:               73.00                        + 0.40 

Prices as of  12:00pm                        Source: Bloomberg, Reuters 

Local shares dropped 0.54 percent 

PSEi dropped 23.76 points to 4342.69 as investors sold some index stocks that will be removed from the index starting Sept 12.  San Miguel Corp., Cebu Air Inc., SM Development Corp., Belle Corp. and Semirara Mining Corp. will be added to the nation’s benchmark stock index starting Sept. 12, the Philippine Stock Exchange Inc. said in a statement. ABS-CBN Corp., Filinvest Land Inc., Lepanto Consolidated Mining Corp. and Security Bank Corp. will be dropped from the measure, it said. 

BANCO DE ORO UNIBANK, INC. 

Jonathan Ravelas

Chief Market Strategist

(632) 858-3145