The day's market - September 05, 2007

News Articles:

Comment on yesterday's market drop and today's expectations.

*correction..................market would (rise) today............


Comment on Meralco's Stock Dividend.
Source: BusinessWorld (September 05, 2007)


The Dow Jones Industrial Average (DJIA) was up by 91.12 points overnight in WallStreet and it closed at 13448.86.

PSEi previous close - 3312.30 (September 04, 2007)

open - 3321.70 (up 9.40 points)

The market opened on the upside as the gains in the US equities market provided a boost in investor sentiment. It moved however moved just within the 3320-3350 range. The PSEi was already up by around thirty points in the first twenty minutes of trading and it just preserved the day's gains for the rest of the trading session.

high - 3349.36
close- 3342.35 (up 30.05 points or 0.91%)

Advancers 73
Decliners 37

Value turnover: PhP 3.342 bn
Cross transactions: PhP 1.406 bn

The market was able to hold at the 3300 level. The market was buoyed up by the advance in the DJIA last night. It also got a lift from the recovery of Meralco(+7.79%) shares which was battered the past two days as investors sold it down ahead of its ex-dividend date.
The day's advance however was limited as PLDT and Meralco already accounted for 20 points of the day's gains. The next few day's are still critical in building up market confidence.

Sectoral Indices.
M-O +3.65%
Industrial +1.50%
Services +1.31%
Financial +0.69%
Property +0.40%
Holdings -0.28%

The Day's Top Gainers:
JTH: PhP 20.25; +50.00%
MED: PhP 0.43; +34.37%
AAA: PHp 0.65; +16.07%

The Day's Biggest Decliners
CDC: PhP 1.60; -20.00%
ICTV: PhP 1.80; -10.00%
ABAB: PhP 0.011; -8.33%

The Top Index Issue Gainers were Mining Stocks. (Gold Prices were up and was above the $680 an ounce level).
MA +14.29%
MAB +12.50%
LCB +11.11%
LC +8.70%


The average rate of the 20-year T-bond rose to 8.599% during yesterday's auction from a comparable debt paper issued in December which had a rate of 7.774%

In the morning trade, the Philippine peso was hovering around the PhP 46.6 level agains the US dollar.