Philippine Markets: 28 February 2011

28 February 2011

USD/PhP: 43.565 - 0.145 PSEi: 3766.73 + 29.69
USD/JPY: 81.69 PFINC: 839.97 + 21.17
EUR/USD: 1.3784 BDO: 46.90 + 0.40
GBP/USD: 1.6147 BPI: 55.65 + 2.65
PDSTF3M: 1.9269 MBT: 57.40 + 0.45
Prices as of 4:00pm Source: Bloomberg, Reuters



Upbeat mood marks trading on local stock market
By Doris Dumlao
Philippine Daily Inquirer

MANILA, Philippines—The local stock market started the week on an upbeat mood as bargain hunters loaded up on Aboitiz stocks alongside other oversold conglomerate and banking shares.

The main-share Philippine Stock Exchange index added 29.69 points or 0.79 percent to finish at 3,766.73 in heavy trading on Monday.

Dealers said the day's upswing was fueled by heavy buying on Aboitiz stocks, particularly holding firm Aboitiz Equity Ventures (AEV) and power unit Aboitiz Power. This was as the inclusion of AEV in a closely tracked MSCI index took effect.

Value turnover surged to P8.29 billion, bouncing from anemic trading in the last few weeks. About P3.9 billion of the value traded on the local bourse was on AEV.

But the bargain-hunting was selective, thereby lifting 63 stocks as against 61 that declined.

Other stocks that benefited from bargain hunting for the day were SM Investments, Megaworld, Cebu Air, DMCI Holdings, San Miguel Corp., BPI, Banco de Oro and Semirara Mining Corp.

On the other hand, AGI, PLDT, Ayala Land, ICTSI, Meralco, EDC, Jollibee, SM Prime and Philex Mining traded in the red.

BDO UNIBANK INC.

Jonathan Ravelas
Chief Market Strategist
(632) 858-3145

Rhys Cruz
Junior Researcher
(632) 858-3001

BIR Annual Campaign Program

ACCOUNTING FOR NON-ACCOUNTANTS

PRESS RELEASE

Contact: OROCHAMBER thru Tel# 859-1426

OROCHAMBER, Chinese Chambers, PICPA host Accounting Forum


The Cagayan de Oro Chamber of Commerce and Industry Foundation, Inc. (Oro Chamber) in partnership with BPR & Co., CDO Fil-Chi Chamber, Misamis Oriental Fil-Chi Chamber and PICPA Region 10 conducted a seminar on “ACCOUNTING FOR NON- ACCOUNTANTS” last February 24 at the VIP Hotel.

More than 130 participants listened to practical accounting and bookkeeping tips.

OroChamber President Antonio Uy shared that the forum is one of the Chamber’s priority activities under its Effective Taxation Program.

“We have to continually capacitate our members,” he said. “We want to ensure that all member companies are compliant to the reporting requirements of BIR by keeping them updated on the new regulations and circulars of the bureau,” he added.

“With this surge of participants, we see the need to have a workshop series on accounting both for employers and non-accounting staff who are handling bookkeeping and finance functions,” Vice President for Trade and Commerce Mr. Efren Uy mused.

Starting March, member and partner companies can actively participate in the accounting and bookkeeping workshops which will highlight report-preparation exercises.

For related queries, please call the OROCHAMBER Office and look for Ms. Mozell Nabua.