The day's market - November 16, 2007

DOW JONES INDUSTRIAL AVERAGE (DJIA) summary
Index Value: 13,110.05
Trade Time: Nov 15
Change: Down 120.96 (0.91%)
Prev Close: 13,231.01
Open: 13,230.68
Day's Range: 13057.37 - 13260.19

Gold was down by $26.20 to close at $787.10 an ounce.

The more than a hundred point drop in WallStreet and the steep decline in Gold prices dampened investor sentiment and overshadowed the Bangko Sentral rate cut. Investors opted to lighten up ahead of the weekend.

PSEi previous close - 3672.22 (November 15, 2007)

time--------------down------------PSEi
9:31------------1.33-------------3670.89

Advancers 3 Decliners 18
M-O -1.22%
Holdings -0.83%
Industrial -0.08%
Financial -0.08%
Property 0.0%
Services 0.0%

9:32-----------13.56
9:33-----------17.69
9:34-----------18.70
9:35-----------19.80
9:36-----------20.44

Advancers 7 Decliners 27

9:38-----------17.70
9:41-----------19.20
9:48-----------20.56
9:49-----------23.78
9:50-----------24.15
9:52-----------25.32
9:57-----------22.57
10;03----------23.09
10:04----------20.95

Advancers 16 Decliners 41
PhP 43.424 vs $US 1.00

10:16----------21.01
10:23----------26.72
10:24----------28.46
10:25----------32.89
10:26----------33.56
10:28----------42.44
10:29----------44.27
10:34----------49.57-------------3622.65

The PSEi is now starting to cover the chart gap.

10:36----------46.22
10:39----------47.60

PhP 43.408 vs $US 1.00

10:41----------48.23
10:42----------52.69
10:53----------55.31
10:54----------58.39-------------3613.83

10:57----------58.37
11:00----------55.29
11:14----------55.76
11:18----------60.70-------------3611.52

The Chart gap is fully covered.
Advancers 8 Decliners 85
M-O -3.00%
Financial -2.80%
Industrial -1.75%
Property -1.20%
Holdings -1.12%
services -0.78%

11:23---------63.07
11:26---------66.72
11:28---------67.14
11:35---------67.62
11:37---------69.10
11:39---------72.22--------------3600.00

The PSEi tests and consolidates at the 3600 level.

11:40---------69.20-------------3603.02
11:42---------72.73
11:45---------76.27
11:46---------77.09-------------3595.13 (day's low)
11:47---------74.20

Advancers 13 Decliners 104

11:52---------72.81
11:59---------74.19
12:01---------73.26--------------3598.96 (-1.99%)
Market close.

Advancers 17
Decliners 101

Value turnover: PhP 5.329 bn
Cross transactions: phP 2.180 bn

Sectoral Indices.
Financial -3.94%
M-O -3.23%
Industrial -2.50%
Holdings -1.58%
Property -1.19%
Services -1.05%

The Day's Top Gainers:
DFNN: PhP 13.50; +20.00%
ZHI: PhP 0.68; +17.24%
ACR: PhP 0.82; +17.14%
JOH: PhP 1.80; +12.50%

The Day's Biggest Decliners:
PGPI: PhP 90.00; -30.77%
AJO: PhP 0.135; -10.00%
AR: PhP -9.09%



The monetary autorities decided to cut policy rates by 25 basis points; setting interest rates at around a 15year low.
This set back the rates at which the Bangko Sentral ng Pilipinas (BSP) borrows from or lends to banks from 5.75% and 7.75% six weeks earlier to only 5.5% and 7.5% respectively. (The BSP's overnight borrowing rate of 5.5% is its lowest since January 1995).

Overseas Filipinos' remittances for the first nine months of 2007 hit $10.47 bn; up 14.98% from the same period last year.
For September alone, it was at $1.139 bn, 5.56% lower than August's $1.206 bn.