The day's market - February 12, 2008

DOW JONES INDUSTRIAL AVERAGE (DJIA) summary
Index Value: 12,240.01
Trade Time: Feb 11
Change: Up 57.88 (+0.48%)
Prev Close: 12,182.13
Open: 12,181.89
Day's Range: 12069.47 - 12252.12

The modest uptick in WallStreet had the local equities market advancing slightly. The Philippine Stock Exchange Index (PSEi) just tested and consolidated at the 3200 level in relatively uneventful trade.

PSEi previous close - 3179.48 (February 11,2008)

time------------up-------------PSEi
9:31-----------4.68------------3184.16

Advancers 9 Decliners 7

9:32-----------6.24
9:33-----------9.35
9:34----------10.44
9:35----------12.52
9:36----------13.18------------3192.66

Advancers 17 Decliners 9
PhP 40.794 vs US$ 1.00

9:37----------12.55
9:38----------11.06
9:40----------12.15
9:41----------15.26
9:42----------17.72
9:46----------17.77------------3197.25

9:47----------16.43
9:49----------15.18
9:51----------17.37
9:52----------18.40
9:54----------22.54------------3202.02

The 3200 level is tested. The market then just trades in a narrow range for the rest of the trading session as it tries to build a base here.

9:58----------20.87
10:01---------18.02
10:02---------25.56------------3205.04
10:04---------24.25
10:06---------21.58
10:08---------22.10

PhP 40.765 vs US$ 1.00

10:09---------19.24
10:12---------17.88------------3197.36
10:18---------19.87
10:19---------22.18
10:24---------21.39
10:30---------20.65------------3200.13
10:36---------29.09------------3208.51 (day's high)

PLDT (TEL) trades at PhP 2935 at this point. Yesterday, it closed at PhP 2865.
PhP 40.774 vs US$ 1.00

10:38---------28.45
10:39---------27.77
10:41---------26.28
10:44---------28.18
10:46---------26.09
10:47---------27.65
10:48---------28.90------------3208.38
10:51---------26.09
10:53---------25.64
10:56---------24.49
10:57---------27.83
10:58---------23.36------------3202.84
11:02---------28.18
11:04---------23.98
11:06---------25.54

PhP 40.789 vs US$ 1.00

11:11---------26.62
11:18---------23.60
11:23---------22.07------------3201.55
11:30---------25.01

The market remains fragile and investors are still cautious despite the advance. The number of stock gainers trail the decliners.
Advancers 36 Decliners 49
Value turnover: PhP 1.160 bn

11:34----------26.06
11:38----------26.06
11:40----------21.63
11:41----------19.05-----------3198.53
11:44----------21.14
11:47----------19.29
11:50----------20.55
11:52----------21.98
11:54----------21.80
11:56----------22.20
11:57----------22.85
11:58----------27.29
11:59----------24.77
12:01----------21.42-----------3200.90 (+0.67%)
Market Close.

Advancers 41
Decliners 44

Value turnover: PhP 2.040 bn
Cross transactions: PhP 868 mn

Sectoral Indices:
Services +1.50%
Holdings +0.56%
Industrial +0.53%
M-O -0.04%
Property -0.29%
Financial -0.42%

The Day's Top Gainers:
CAC: PhP 2.20; +10.00%
BKD: PhP 1.36; +9.68%
TBGI: PhP 2.02; +7.45%

The Day's Biggest Decliners:
FEU: PhP 830.00; -7.78%
ZHI: PhP 0.30; -6.25%
EIBA: PhP 0.33; -5.71%

The Philippines had its smallest budget deficit in a decade in 2007. Last year, the deficit fell to only PhP 9.4 bn and was just a fraction of the PhP 63 bn target. This however includes a record PhP 90.6 bn in privatization proceeds.