The day's market - June 29, 2007

The US Dow Jones Industrial Average closed flat. It was down by just 5.45 points to end at 13422.28. Lack of strong and convincing leads had trading in the Philippine stock market relatively uneventful. Momentum from yesterday's advance; and investor expectations of a window dressing, just carried the market to post modest gains.

time-------------up---------------PSEi
9:31------------7.13------------3652.13
9:32------------4.06
9:34------------9.87
9:35-----------10.99-----------3655.99

The PSEi just consolidates near the 3650 level.

9:38------------7.37
9:39------------2.66-----------3647.66

The market manages to hold on to its gains and it continues to trade with a positive bias.

9:44------------5.78
9:46------------7.33
9:49-----------10.48
9:50-----------14.45-----------3659.45

10:01---------12.79
10:02---------14.35
10:03---------16.67
10:08---------17.44------------3662.44

10:32---------13.44
10:39----------9.03------------3654.03

There was no real momentum build up to establish a strong trend. It just drifted sideways.

10:45---------10.45

11:14---------14.02
11:28---------13.78
11:32---------12.10
11:36---------11.51
11:42----------8.87
11:49---------15.24

A modest finishing kick had the market end at its high.

12:01---------20.23-----------3665.23 (+0.56%)
Market Close.

The expected first-half end window dressing was disappointing. It somehow leaves unclear directions for next weeks' trade. Any huge movement in foreign markets and new developments in the local business front over the weekend will have to be awaited and keenly watched.

Advancers 63
Decliners 57

Value turnover PhP 5.965 bn
Cross sales PhP 2.178 bn

Sectoral Indices.
Industrial +2.44%
Property +1.04%
Financial +0.72%
M-O +0.58%
Holdings +0.16%
Services -0.16%

Closing prices of select stocks - June 29, 2007
ABA - PhP 0.013
ALI - PhP 17.50
DGTL - PhP 1.58
EIB - PhP 0.55
GO - PhP 0.35
GOB - PhP 0.35
LOTO - PhP 15.50
MPI - PhP 4.45
NRCP - PhP 4.35
SUN - PhP 1.00
V - PhP 1.78
WEB - PhP 0.0625