Philippine Markets: 13 October 2011

13 October  2011

USD/PhP:    43.37 -0.035       PSEi:       4134.48 +  14.77
USD/JPY:    77.19                     PFINC:       930.88   +   2.58
EUR/USD:    1.3767                  BDO:            52.95    +  0.10
GBP/USD:    1.5696                  BPI:               56.30    +  0.10
PDSTF3M:    2.8038                 MBT:             67.85   +  0.350
Prices as of  4:00pm                Source: Bloomberg, Reuters

Roundup: Philippine stocks end up on extended US market rally
2011-09-01 08:14:29.913 GMT


   MANILA, Sep 01, 2011 (Xinhua via COMTEX) -- Getting their
cue from the extended rally of the U.S. stock market, investors
scooped up heavyweight issues sending the Philippine equities
higher on Thursday.
   The bellwether Philippine Stock Exchange index gained 0.41
percent or 18.09 points to 4,366.59. The broader all-share
index rose by 0.28 percent or 8.59 points to 3,050.26.
   Trading volume reached 8.57 billion shares worth 6.05
billion pesos (143.36 million U.S. dollars) with 66 stocks
declining, 65 advancing, and 35 unchanged.
   Of the six counters, only the mining and oil sector bucked
the trend.
   "The local market continued its second day rally due to
the strong gains made in U.S. market on Wednesday," brokerage
DBP- Daiwa Securities, Inc. said.
   The Dow Jones industrial average index was up for the
fourth time and closed 0.46 percent higher. Asian equities were
also trading positively.
   Analyst Prince Anthony Yeung of AB Capital Securities,
Inc. said index heavyweights led Thursday's rally. These issues
include heavyweight Philippine Long Distance Telephone Co.,
Ayala Land, Inc. and SM Investments Corp.
   Recent favorite Lepanto Consolidated Mining Co. meanwhile
tempered Thursday's gain when its "B" shares fell by more than
five percent, while its "A" shares dropped 8.07 percent of its
value.
   "The interest in heavyweight index issues is an
encouraging development as it bodes well for the overall market
since lately, the local stock market has been dominated by
second and third liners," Yeung said.
   Yeung said the interest in index heavyweights rest on
hopes that the U.S. Federal Reserves would keep the world's
largest economy from falling into recession.