05 October 2011
USD/PhP: 43.86 - 0.22 PSEi: 3823.13 - 6.79
USD/JPY: 76.66 PFINC: 880.67 + 3.22
EUR/USD: 1.3317 BDO: 47.65 +
0.15
GBP/USD: 1.5476 BPI: 54.45 + 1.05
PDSTF3M: 3.1135 MBT: 62.00 - 0.60
Prices as of 4:00pm Source: Bloomberg, Reuters
Philippine stocks dip in cautious trading
By: Doris C. Dumlao
Philippine Daily Inquirer
MANILA, Philippines—Local stocks closed slightly lower Wednesday as
investors remained cautious given the volatile external environment.
The main-share Philippine Stock Exchange index (PSEi) shed 6.79 points, or
0.18 percent, to finish at 3,823.13.
Trading was mixed across counters, with the industrial and services firms
ending in the red while modest gains by the financial, holding firm,
property and mining/oil counters tempered overall index decline.
Turnover improved to P6.26 billion. Despite the overall index decline,
there were 75 advancers against 59 decliners while 38 stocks were
unchanged.
The index was dragged down by selling on SM Investments, PLDT, EDC, ICTSI,
Metrobank, AEV and URC. Security Bank also closed lower.
On the company’s stock trading debut, Puregold shares slumped by 12 percent
to P11 per share from the initial public offering price of P12.50 per
share.
The PSEi’s decline for the day was curbed by the improvement in the share
prices of DMCI, AGI, Ayala Land, BPI, BDO and Aboitiz Power. The non-index
stocks that gained for the day were Lepanto A (for local investors), FPH,
Boulevard Holdings and Lepanto B (for both local and foreign investors).
Overnight, the Dow Jones Industrial Index rebounded by 153.41 points, or
1.44 percent, in volatile Wall Street trade. Its futures index, however,
was down by 25 points Wednesday afternoon.
BDO UNIBANK, INC.
Jonathan Ravelas
Chief Market Strategist
(632) 858-3145
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