The day's market - November 07, 2007

Market Comments:
BusinessWorld - November 07, 2007


Philippine consumer prices for October was steady as Inflation was at 2.7%

Dow Jones Industrial Average (DJIA) summary
Index Value: 13,660.94
Trade Time: Nov 6
Change: Up 117.54 (0.87%)
Prev Close: 13,543.40
Open: 13,542.34
Day's Range: 13511.86 - 13669.56

NY Metals and Oil report
Gold up $12 to $820.30
Oil up $2.72 to $96.70

PSEi previous close - 3773.63 (November 06, 2007)

time---------change----------PSEi
9:31--------up 28.51--------3802.14
9:32-----------28.79--------3802.42 (day's high)
9:33-----------26.43--------3800.06

The 3800 level was immediately tested upon the opening bell.

9:34-------up 25.05
9:37----------26.82
9:40----------19.71--------3793.34

9:41----------27.07
9:43----------26.78--------3800.41
9:45----------28.22
9:46----------24.60--------3798.23

The market still fails to hold above the 3800 level and heads lower. Initial boost from WallStreet's advance gradually dissipates.

9:50------up 23.49
9:53---------22.58

9:55------up 25.00
9:58---------23.14
10:01--------18.06
10:03--------15.87
10:05--------14.92
10:06--------13.13
10:07--------10.81
10:08--------12.59
10:10--------11.48
10:11---------8.51
10:13--------10.92
10:16--------11.24
10:23--------10.96
10:25---------8.07
10:29---------8.07
10:30---------8.75
10:34--------10.18
10:38---------6.37
10:39---------7.59
10:41---------7.99
10:42---------5.11
10:46---------6.42

10:48---------2.16

Advancers 59 Decliners 29
The PSEi struggles to stay in the positive territory in the next hour or so.

10:49------up 1.53

10:53----down 1.48

Advancers 56 Decliners 32

10:55------up 2.81
10:56----down 1.62

10:58------up 1.00
10:59---------2.15
11:00---------0.10
11:03---------0.64
11:06---------2.29
11:09---------4.55

Advancers 56 Decliners 36

11:10---------8.94---------3782.57
11:15---------1.91
11:16---------0.58
11:19---------0.10

11:21----down 0.30
11:22------up 1.87
11:24----down 0.20
11:25---------2.52
11:30---------2.50
11:32------up 1.94
11:33---------3.52
11:30---------2.11
11:35----down 0.08
11:36---------4.46--------3769.17 (day's low)
11:38---------2.60

11:39------up 2.73
11:43---------3.15
11:45---------2.86

The market consolidates its gains in the last 15 minutes of the trading session.

11:48------up 4.08
11:49---------6.69
11:50---------7.37
11:51---------8.21
11:52--------10.16
11:54--------10.64
11:55---------6.57
11:56---------8.36
11:57---------9.34
11:58--------12.00
11:59--------15.57
12:01--------14.36------------3788.26 (+0.39%)
Market Close.

Advancers 56
Decliners 41

Value turnover: PhP 5.870 bn
Cross transactions: PhP 2.728 bn
Block Sales: PhP 434 mn

The peso closed stronger yesterday afternoon. At noon today, the peso was at PhP 43.388 vs the $US.
The 3800 level is still a key resistance for the PSEi.
Metal prices continue to spur active trading in the mining stocks.

Sectoral Indices.
M-O +1.09%
Property +0.61%
Holdings +0.50%
Services +0.20%
Financial +0.10%
Industrial -0.27%

The Day's Top Gainers:
DIZ: PhP 11.25; +13.64%
APXB: PhP 6.60; +10.00%
ACR: PhP 0.91; +9.64%
APX: PhP 6.50; +8.33%

The Day's Biggest Decliners:
MUSX: PhP 1.30; -5.80%
AJO: PhP 0.165; -5.71%
FEU: PhP 870.00; -5.45%