Dow Jones Industrial Average(DJIA) Summary
Index Value: 12,638.32
Trade Time: May 30
Change: Down 7.90 (-0.06%)
Prev Close: 12,646.22
Open: 12,647.36
Day's Range: 12617.40 - 12689.70
The DJIA was relatively unchanged as it moved within a narrow trading range above the 12600 level.
Saturday, May 31, 2008
Friday, May 30, 2008
The Philippine Stock Market - May 30, 2008
Dow Jones Industrial Average (DJIA) Summary
Index Value: 12,646.22
Trade Time: May 29
Change: Up 52.19 (+0.41%)
Prev Close: 12,594.03
Open: 12,593.87
Day's Range: 12554.70 - 12726.66
The DJIA had a modest advance for the 3rd straight trading day.
The local equities market meanwhile held at the 2800 support level. The Philippine Stock Exchange Index (PSEi) opened weak but steadily advanced throughout the session as some of the second and thirdliners became active again .
PSEi previous close - 2802.22 (May 29, 2008)
open - 2800.04
high - 2835.49 (+33.27)
low - 2800.04
close - 2827.44 (+25.22 or +0.90%)
The PSEi goes above its 30 day moving average (m.a.)of 2820 but still below the 30-day m.a. which is at 2849 today.
Value turnover: PhP 5.394 bn
Cross transactions: 2.251 bn
Advancers 55
Decliners 29
Unchanged 50
Sectoral Indices.
Financial +2.24%
M-O +1.04%
Holdings +0.96%
Services +0.93%
Property +0.65%
Industrial -1.25%
The Day's Top Gainers:
MHC: PhP 0.36; +12.50%
PAX: PhP 4.20; +10.53%
APM: PhP 0.014; +7.69%
The Day's Biggest Decliners:
FPH: PhP 33.00; -9.59%
KPH: PhP 1.90; -9.52%
SMCB: PhP 38.50; -9.41%
At mid-day:
Most asian equities markets are up.
The Philippine Peso is at PhP 43.833 vs US$1.00.
*****This afternoon; we will be having the "graduation" ceremonies of the ITAP - 3rd batch at Tektite in Ortigas where they had a tour of the Philippine Stock Exchange.
Index Value: 12,646.22
Trade Time: May 29
Change: Up 52.19 (+0.41%)
Prev Close: 12,594.03
Open: 12,593.87
Day's Range: 12554.70 - 12726.66
The DJIA had a modest advance for the 3rd straight trading day.
The local equities market meanwhile held at the 2800 support level. The Philippine Stock Exchange Index (PSEi) opened weak but steadily advanced throughout the session as some of the second and thirdliners became active again .
PSEi previous close - 2802.22 (May 29, 2008)
open - 2800.04
high - 2835.49 (+33.27)
low - 2800.04
close - 2827.44 (+25.22 or +0.90%)
The PSEi goes above its 30 day moving average (m.a.)of 2820 but still below the 30-day m.a. which is at 2849 today.
Value turnover: PhP 5.394 bn
Cross transactions: 2.251 bn
Advancers 55
Decliners 29
Unchanged 50
Sectoral Indices.
Financial +2.24%
M-O +1.04%
Holdings +0.96%
Services +0.93%
Property +0.65%
Industrial -1.25%
The Day's Top Gainers:
MHC: PhP 0.36; +12.50%
PAX: PhP 4.20; +10.53%
APM: PhP 0.014; +7.69%
The Day's Biggest Decliners:
FPH: PhP 33.00; -9.59%
KPH: PhP 1.90; -9.52%
SMCB: PhP 38.50; -9.41%
At mid-day:
Most asian equities markets are up.
The Philippine Peso is at PhP 43.833 vs US$1.00.
*****This afternoon; we will be having the "graduation" ceremonies of the ITAP - 3rd batch at Tektite in Ortigas where they had a tour of the Philippine Stock Exchange.
Philippine Stock Exchange Foundation, Inc. - General Membership Meeting
Attended yesterday afternoon the 6th General Membership Meeting at the Tektite boardroom.
Congratulations to the newly elected Trustees:
Elphege C. Wong - Bernad Securities, Inc.
Edwin C. Luy - Triton Securities, Inc.
Alejandro Yu - R.S. Lim Securities.
An interesting sidelight that came my attention is that in a survey commissioned by the PSE (with the help of the brokers); it was found out that there are only around 416,000 accounts (43,000 of which opened last year) for both retail and institutional clients. This is roughly just about half a percent of the population in the country. And of these; only 25% are considered active. This just shows that we really have a long long way to go in investor education.
Congratulations to the newly elected Trustees:
Elphege C. Wong - Bernad Securities, Inc.
Edwin C. Luy - Triton Securities, Inc.
Alejandro Yu - R.S. Lim Securities.
An interesting sidelight that came my attention is that in a survey commissioned by the PSE (with the help of the brokers); it was found out that there are only around 416,000 accounts (43,000 of which opened last year) for both retail and institutional clients. This is roughly just about half a percent of the population in the country. And of these; only 25% are considered active. This just shows that we really have a long long way to go in investor education.
Thursday, May 29, 2008
The Philippine Stock Market - May 29, 2008
Dow Jones Industrial Average (DJIA)
Index Value: 12,594.03
Trade Time: May 29
Change: Up 45.68 (+0.36%)
Prev Close: 12,548.35
Open: 12,542.90
Day's Range: 12495.27 - 12601.93
The DJIA had a modest advance as it held at the 2500 support. It is currently testing the 2600 level.
The local equities market on the other hand traded lower and continued its decline from yesterday. The Philippine Stock Exchange Index (PSEi) is testing the support at the 2800 level and has just closed the Chart gap left open at the 2803 level.
PSEi previous close - 2833.27 (May 28)
open - 2828.57
low - 2793.59 (-39.68)
close - 2802.22 (-31.05 or -1.09%)
Value turnover: PhP 2.311 bn
Cross transactions: PhP 623 mn
The PSEi also broke below its 30-day moving average which is at 2824. Immediate support now is at the 2770-2800 levels. If this does not hold; the next support is at 2712. Resistance is seen at the 10-day moving average which is now at 2854.
Sectoral Indices.
Financial -0.56%
Holdings -0.75%
Services -0.93%
Industrial -1.16%
Property -1.40%
M-O -2.00%
Advancers 18
Decliners 78
Unchanged 59
The Day's Top Gainers:
SEVN: PhP 5.00; +47.06%
CDC: PhP 1.90; +43.94%
ATS: PhP 1.16; +9.43%
MVC: PhP 0.70; +9.38%
The Day's Biggest Decliners:
OMW2: PhP 0.005; -23.08%
OM: PhP 0.008; -15.79%
BPC: PhP 2.18; -8.40%
UPM: PhP 0.51; -7.27%
At mid-day:
Asian markets were mostly up.
The Philippine Peso was at PhP 43.869 vs US$ 1.00.
Index Value: 12,594.03
Trade Time: May 29
Change: Up 45.68 (+0.36%)
Prev Close: 12,548.35
Open: 12,542.90
Day's Range: 12495.27 - 12601.93
The DJIA had a modest advance as it held at the 2500 support. It is currently testing the 2600 level.
The local equities market on the other hand traded lower and continued its decline from yesterday. The Philippine Stock Exchange Index (PSEi) is testing the support at the 2800 level and has just closed the Chart gap left open at the 2803 level.
PSEi previous close - 2833.27 (May 28)
open - 2828.57
low - 2793.59 (-39.68)
close - 2802.22 (-31.05 or -1.09%)
Value turnover: PhP 2.311 bn
Cross transactions: PhP 623 mn
The PSEi also broke below its 30-day moving average which is at 2824. Immediate support now is at the 2770-2800 levels. If this does not hold; the next support is at 2712. Resistance is seen at the 10-day moving average which is now at 2854.
Sectoral Indices.
Financial -0.56%
Holdings -0.75%
Services -0.93%
Industrial -1.16%
Property -1.40%
M-O -2.00%
Advancers 18
Decliners 78
Unchanged 59
The Day's Top Gainers:
SEVN: PhP 5.00; +47.06%
CDC: PhP 1.90; +43.94%
ATS: PhP 1.16; +9.43%
MVC: PhP 0.70; +9.38%
The Day's Biggest Decliners:
OMW2: PhP 0.005; -23.08%
OM: PhP 0.008; -15.79%
BPC: PhP 2.18; -8.40%
UPM: PhP 0.51; -7.27%
At mid-day:
Asian markets were mostly up.
The Philippine Peso was at PhP 43.869 vs US$ 1.00.
Wednesday, May 28, 2008
The Philippine Stock Market - May 28, 2008
Dow Jones Industrial Average(DJIA)
Index Value: 12,548.35
Trade Time: May 27
Change: Up 68.72 (+0.55%)
Prev Close: 12,479.63
Open: 12,479.63
Day's Range: 12442.59 - 12572.53
The DJIA had a modest rebound at the resumption of trading after the Memorial Day break. It was able to close above the 12500 level.
World Crude prices trades below the $130 a barrel level.
The local equities market opened higher and traded on the upside for the first half-hour. But as the market still struggles with investor confidence concerns; it reversed sentiment and continued its decline into negative territory. The Philippine Stock Exchange Index (PSEi) ended the day near its low.
PSEi previous close - 2855.98 (May 27)
Today's close - 2833.27 (-22.71 or -0.79%)
Advancers 28
Decliners 59
Unchanged 67
Sectoral Indices.
M-O +0.13%
Financial -0.13%
Services -0.75%
Holdings -0.88%
Industrial -0.98%
Property -1.25%
****Will be giving a lecture this afternoon on "Stock Trading Strategies" for the participants in the 3rd run of the ITAP conducted by CMIP.
Index Value: 12,548.35
Trade Time: May 27
Change: Up 68.72 (+0.55%)
Prev Close: 12,479.63
Open: 12,479.63
Day's Range: 12442.59 - 12572.53
The DJIA had a modest rebound at the resumption of trading after the Memorial Day break. It was able to close above the 12500 level.
World Crude prices trades below the $130 a barrel level.
The local equities market opened higher and traded on the upside for the first half-hour. But as the market still struggles with investor confidence concerns; it reversed sentiment and continued its decline into negative territory. The Philippine Stock Exchange Index (PSEi) ended the day near its low.
PSEi previous close - 2855.98 (May 27)
Today's close - 2833.27 (-22.71 or -0.79%)
Advancers 28
Decliners 59
Unchanged 67
Sectoral Indices.
M-O +0.13%
Financial -0.13%
Services -0.75%
Holdings -0.88%
Industrial -0.98%
Property -1.25%
****Will be giving a lecture this afternoon on "Stock Trading Strategies" for the participants in the 3rd run of the ITAP conducted by CMIP.
Tuesday, May 27, 2008
The Philippine Stock Market - May 27, 2008
Comments on yesterday's trading
Philippine Star - May 27, 2008
The US markets were closed for Memorial Day.
The Philippine Stock Exchange Index (PSEi) moved in a narrow range for most part of the trading day as investors continue to straddle on the sidelines. A strong finishing kick however had the local equities market close at its high.
PSEi previous close - 2840.52 (May 26, 2008)
open - 2839.80
high - 2855.98
low - 2837.06
close - 2855.98 (+15.46 or +0.54%)
The market is still in undecided territory and has drifted the past two days. The PSEi is in betwwen the 10-day (2865) and 30-day (2830) moving averages.
Value turnover: PhP 1.782 bn
Cross transactions: PhP 777 mn
Advancers 56
Decliners 37
Unchanged 63
Sectoral Indices:
M-O +1.16%
Holdings +1.00%
Property +0.35%
Industrial +0.22%
Financial +0.13%
Services +0.07%
The Day's Top Gainers:
SPC: PhP 2.48; +18.10%
LC: PhP 0.32; +10.34%
LCB: PhP 0.32; +10.34%
The Day's Biggest Decliners:
KPHB: PhP 2.22; -11.20%
KEP: PhP 1.70; -10.53%
WIN: PhP 0.20; -9.09%
At midday:
Asian markets wer mostly up.
The Philippine peso was at PhP 43.696 vs US$ 1.00.
Philippine Star - May 27, 2008The US markets were closed for Memorial Day.
The Philippine Stock Exchange Index (PSEi) moved in a narrow range for most part of the trading day as investors continue to straddle on the sidelines. A strong finishing kick however had the local equities market close at its high.
PSEi previous close - 2840.52 (May 26, 2008)
open - 2839.80
high - 2855.98
low - 2837.06
close - 2855.98 (+15.46 or +0.54%)
The market is still in undecided territory and has drifted the past two days. The PSEi is in betwwen the 10-day (2865) and 30-day (2830) moving averages.
Value turnover: PhP 1.782 bn
Cross transactions: PhP 777 mn
Advancers 56
Decliners 37
Unchanged 63
Sectoral Indices:
M-O +1.16%
Holdings +1.00%
Property +0.35%
Industrial +0.22%
Financial +0.13%
Services +0.07%
The Day's Top Gainers:
SPC: PhP 2.48; +18.10%
LC: PhP 0.32; +10.34%
LCB: PhP 0.32; +10.34%
The Day's Biggest Decliners:
KPHB: PhP 2.22; -11.20%
KEP: PhP 1.70; -10.53%
WIN: PhP 0.20; -9.09%
At midday:
Asian markets wer mostly up.
The Philippine peso was at PhP 43.696 vs US$ 1.00.
Monday, May 26, 2008
The Philippine Stock Market - May 26, 2008
With the DJIA providing a negative lead over the weekend; the Philippine Stock Exchange Index (PSEi) opened lower and traded in negative territory for the whole trading session.
PSEi previous close - 2849.28 (May 23)
open - 2842.71
high - 2842.89
low - 2829.93 (-19.35)
close - 2840.52 (-8.76 or -0.31%)
Value turnover: PhP 1.663 bn
Cross transactions: PhP 672 mn
Advancers 19
Decliners 60
Unchanged 61
Sectoral Indices.
Financial +0.13%
Holdings -0.05%
Industrial -0.24%
M-O -0.25%
Property -0.77%
Services -0.93%
The Day's Top Gainers:
UPM: PhP 0.53; +6.00%
RCB: PhP 19.25; +5.48%
UBP: PhP 33.00; +4.76%
The Day's Biggest Decliners:
CRC: PhP 3.15; -13.70%
APM: PhP 0.013; -7.14%
APC: PhP 0.40; -6.98%
At Midday:
Most asian markets were down.
The Philippine Peso was at PhP 43.567 vs US$ 1.00.
PSEi previous close - 2849.28 (May 23)
open - 2842.71
high - 2842.89
low - 2829.93 (-19.35)
close - 2840.52 (-8.76 or -0.31%)
Value turnover: PhP 1.663 bn
Cross transactions: PhP 672 mn
Advancers 19
Decliners 60
Unchanged 61
Sectoral Indices.
Financial +0.13%
Holdings -0.05%
Industrial -0.24%
M-O -0.25%
Property -0.77%
Services -0.93%
The Day's Top Gainers:
UPM: PhP 0.53; +6.00%
RCB: PhP 19.25; +5.48%
UBP: PhP 33.00; +4.76%
The Day's Biggest Decliners:
CRC: PhP 3.15; -13.70%
APM: PhP 0.013; -7.14%
APC: PhP 0.40; -6.98%
At Midday:
Most asian markets were down.
The Philippine Peso was at PhP 43.567 vs US$ 1.00.
Saturday, May 24, 2008
Trading in WallStreet - May 23, 2008
Dow Jones Industrial Average (DJIA)Summary
Index Value: 12,479.63
Trade Time: May 23
Change: Down 145.99 (-1.16%)
Prev Close: 12,625.62
Open: 12,620.90
Day's Range: 12460.09 - 12621.96
The DJIA opened lower and continued its decline to break below the 12500 level and close near its low.
Index Value: 12,479.63
Trade Time: May 23
Change: Down 145.99 (-1.16%)
Prev Close: 12,625.62
Open: 12,620.90
Day's Range: 12460.09 - 12621.96
The DJIA opened lower and continued its decline to break below the 12500 level and close near its low.
Friday, May 23, 2008
The Philippine Stock Market - May 23, 2008
Comment on yesterday's trading
BusinessWorld - May 23, 2008
Dow Jones Industrial Average (DJIA) Summary
Index Value: 12,625.62
Trade Time: May 22
Change: Up 24.43 (+0.19%)
Prev Close: 12,601.19
Open: 12,597.69
Day's Range: 12591.34 - 12669.34
The DJIA traded within a narrow range as it tries to find a base at the 12600 level after its big losses the previous days.
The local equities market likewise had a modest rebound after the past day's declines. The Philippine Stock Exchange Index (PSEi) also moved within a narrow range and consolidated.
PSEi previous close - 2838.58 (May 22)
open - 2833.22
high -2853.08 (+14.50)
low - 2830.97 (-7.61)
close - 2849.28 (+10.70 or +0.38%)
Value turnover: PhP 1.746 bn
Cross transactions: PhP 651 mn
Advancers 40
Decliners 59
Ubchanged 56
Sectoral Indices.
Holdings +1.04%
Services +0.68%
Financial +0.51%
Property -0.18%
Industrial -0.65%
M-O -1.10%
Local investors are now in a point of uncertainty and will be looking for leads over the weekend. The PSEi closed lower than the 10-day moving average (m.a) of 2860 but higher then the 30-day m.a. which is at 2836. The day's movement also partially closed the chart gap at 2859-2849 which was opened yesterday.
Value turnover remains low and despite today's slight advance; Losers led Gainers and the sectoral indices closed mixed.
The Day's Top Gainers:
APR: PhP 4.00; +33.33%
FEU: PhP 1000.00; +9.89%
PNX: PhP 5.60; +9.80%
ALHI: PhP 6.60; +9.68%
The Day's Biggest Decliners:
CRC: PhP 3.65; -29.81%
CAC: PhP 1.70; -9.57%
PA: PhP 0.10; -9.09%
EVER: PhP 0.145; -6.45%
At Midday:
Asian markets were mixed.
The Philippine Peso was at PhP 43.410 vs US$ 1.00.
BusinessWorld - May 23, 2008Dow Jones Industrial Average (DJIA) Summary
Index Value: 12,625.62
Trade Time: May 22
Change: Up 24.43 (+0.19%)
Prev Close: 12,601.19
Open: 12,597.69
Day's Range: 12591.34 - 12669.34
The DJIA traded within a narrow range as it tries to find a base at the 12600 level after its big losses the previous days.
The local equities market likewise had a modest rebound after the past day's declines. The Philippine Stock Exchange Index (PSEi) also moved within a narrow range and consolidated.
PSEi previous close - 2838.58 (May 22)
open - 2833.22
high -2853.08 (+14.50)
low - 2830.97 (-7.61)
close - 2849.28 (+10.70 or +0.38%)
Value turnover: PhP 1.746 bn
Cross transactions: PhP 651 mn
Advancers 40
Decliners 59
Ubchanged 56
Sectoral Indices.
Holdings +1.04%
Services +0.68%
Financial +0.51%
Property -0.18%
Industrial -0.65%
M-O -1.10%
Local investors are now in a point of uncertainty and will be looking for leads over the weekend. The PSEi closed lower than the 10-day moving average (m.a) of 2860 but higher then the 30-day m.a. which is at 2836. The day's movement also partially closed the chart gap at 2859-2849 which was opened yesterday.
Value turnover remains low and despite today's slight advance; Losers led Gainers and the sectoral indices closed mixed.
The Day's Top Gainers:
APR: PhP 4.00; +33.33%
FEU: PhP 1000.00; +9.89%
PNX: PhP 5.60; +9.80%
ALHI: PhP 6.60; +9.68%
The Day's Biggest Decliners:
CRC: PhP 3.65; -29.81%
CAC: PhP 1.70; -9.57%
PA: PhP 0.10; -9.09%
EVER: PhP 0.145; -6.45%
At Midday:
Asian markets were mixed.
The Philippine Peso was at PhP 43.410 vs US$ 1.00.
Thursday, May 22, 2008
The Philippine Stock Market - May 22, 2008
Dow Jones Industrial Average (DJIA) Summary
Index Value: 12,601.19
Trade Time: May 21
Change: Down 227.49 (-1.77%)
Prev Close: 12,828.68
Open: 12,824.94
Day's Range: 12573.67 - 12862.47
The DJIA lopped off around 200 points for the second straight day. World Crude prices is around the $135 a barrel level and is stoking more inflationary fears and providing less optimism on growth forecasts.
The consecutive huge declines in the US were now very hard to ignore. The local equities market immediately opened lower and it lost the momentum it built up the past days. Even as the 10-day moving average (2845) crossed over the 30-day moving average (2839); the Philiipine Stock Exchange Index (PSEi) closed lower than both. Today's decline confirmed yesterday's reversal.
Active trading in select smaller cap issues prevented steeper losses as sentiment did not turn into panic. Trading in these second- and third-liner stocks is seen to continue.
The PSEi support is at 2803; the lower level of the chart gap left open last May 12-13. It is expected to be tested ahead of the weekend. However; a huge rebound in the DJIA (it has already lost more than 500 points after reaching a high of 13136 only 3 days ago - May 19) may buoy up the local equities market higher and prod it to close the chart gap at the 2846-2859 levels which was opened oday.
PSEi previous close - 2872.45
open - 2844.63 (-27.82)
low - 2826.21 (-46.24)
close - 2838.58 (-33.87 or -1.18%)
Value turnover: PhP 2.143 bn
Cross transactions: PhP 645 mn
Advancers 39
Decliners 65
Unchanged 55
Only 2 index issues advanced.
Sectoral Indices.
M-O +1.02%
Services -0.66%
Property -0.78%
Financial -1.07%
Industrial -1.19%
Holdings -2.09%
The Day's Top Gainers:
PA: PhP 0.11; +10.00%
APM: PhP 0.014; +7.69%
PAX: PhP 4.35; +7.41%
The Day's Biggest Decliners:
PhP: PhP 0.66; -17.50%
MVC: PhP 0.61; -11.59%
ABSP: PhP 26.00; -8.77%
At Mid-day:
Most asian markets wer lower.
The Philippine peso fell further to PhP 43.414 vs US$ 1.00.
Index Value: 12,601.19
Trade Time: May 21
Change: Down 227.49 (-1.77%)
Prev Close: 12,828.68
Open: 12,824.94
Day's Range: 12573.67 - 12862.47
The DJIA lopped off around 200 points for the second straight day. World Crude prices is around the $135 a barrel level and is stoking more inflationary fears and providing less optimism on growth forecasts.
The consecutive huge declines in the US were now very hard to ignore. The local equities market immediately opened lower and it lost the momentum it built up the past days. Even as the 10-day moving average (2845) crossed over the 30-day moving average (2839); the Philiipine Stock Exchange Index (PSEi) closed lower than both. Today's decline confirmed yesterday's reversal.
Active trading in select smaller cap issues prevented steeper losses as sentiment did not turn into panic. Trading in these second- and third-liner stocks is seen to continue.
The PSEi support is at 2803; the lower level of the chart gap left open last May 12-13. It is expected to be tested ahead of the weekend. However; a huge rebound in the DJIA (it has already lost more than 500 points after reaching a high of 13136 only 3 days ago - May 19) may buoy up the local equities market higher and prod it to close the chart gap at the 2846-2859 levels which was opened oday.
PSEi previous close - 2872.45
open - 2844.63 (-27.82)
low - 2826.21 (-46.24)
close - 2838.58 (-33.87 or -1.18%)
Value turnover: PhP 2.143 bn
Cross transactions: PhP 645 mn
Advancers 39
Decliners 65
Unchanged 55
Only 2 index issues advanced.
Sectoral Indices.
M-O +1.02%
Services -0.66%
Property -0.78%
Financial -1.07%
Industrial -1.19%
Holdings -2.09%
The Day's Top Gainers:
PA: PhP 0.11; +10.00%
APM: PhP 0.014; +7.69%
PAX: PhP 4.35; +7.41%
The Day's Biggest Decliners:
PhP: PhP 0.66; -17.50%
MVC: PhP 0.61; -11.59%
ABSP: PhP 26.00; -8.77%
At Mid-day:
Most asian markets wer lower.
The Philippine peso fell further to PhP 43.414 vs US$ 1.00.
Wednesday, May 21, 2008
The Philippine Stock Market - May 21, 2008
Comments on yesterday's Market
BusinessWorld - May 21, 2008
Dow Jones Industrial Average (DJIA)
Index Value: 12,828.68
Trade Time: May 20
Change: Down 199.48 (-1.53%)
Prev Close: 13,028.16
Open: 13,026.04
Day's Range: 12781.78 - 13026.04
The DJIA traded lower from the opening bell. The renewed worries on the credit fallout and rising inflation; the new and continuing record high prices for Oil; and the break of the 13000 level weighed down sentiment and had it close near its low.
The whopping two hundred point drop in the US markets also spurred a retreat in the local equities market. The Philippine Stock Exchange Index (PSEi) also traded lower from the start though its drop was not as steep. Some of its losses were also recovered towards the close of the trading day.
PSEi previous close - 2896.15 (May 20)
open - 2883.06
low - 2859.38 (-36.77)
high - 2890.73
close - 2872.45 (-23.70 points or -0.82%)
Value turnover: PhP 1.740 bn
Cross transactions: PhP 624 mn
The 10-day moving average (m.a.) is crossing over the 30-day m.a at the 2845 level. This is the current support and this movement shows the momentum is still with an upward bias. The 2900 level remains to be the likely target.
Advancers 27
Decliners 64
Unchanged 64
Sectoral Indices.
M-O +0.14%
Financial -0.46%
Industrial -0.57%
Property -0.87%
Services -0.88%
Holdings -1.20%
The Day's Top Gainers:
KPHB: PhP 2.55; +27.50%
KPH: PhP 2.50; +25.00%
KEP: PhP 1.90; +25.00%
The Day's Biggest Decliners:
T: PhP 5.40; -6.90%
APC: PhP 0.45; -6.25%
RLC: PhP 11.25; -6.25%
At Mid-day:
Most asian markets were trading lower.
The Philippine s Peso was at PhP 43.125 vs US$ 1.00.
BusinessWorld - May 21, 2008Dow Jones Industrial Average (DJIA)
Index Value: 12,828.68
Trade Time: May 20
Change: Down 199.48 (-1.53%)
Prev Close: 13,028.16
Open: 13,026.04
Day's Range: 12781.78 - 13026.04
The DJIA traded lower from the opening bell. The renewed worries on the credit fallout and rising inflation; the new and continuing record high prices for Oil; and the break of the 13000 level weighed down sentiment and had it close near its low.
The whopping two hundred point drop in the US markets also spurred a retreat in the local equities market. The Philippine Stock Exchange Index (PSEi) also traded lower from the start though its drop was not as steep. Some of its losses were also recovered towards the close of the trading day.
PSEi previous close - 2896.15 (May 20)
open - 2883.06
low - 2859.38 (-36.77)
high - 2890.73
close - 2872.45 (-23.70 points or -0.82%)
Value turnover: PhP 1.740 bn
Cross transactions: PhP 624 mn
The 10-day moving average (m.a.) is crossing over the 30-day m.a at the 2845 level. This is the current support and this movement shows the momentum is still with an upward bias. The 2900 level remains to be the likely target.
Advancers 27
Decliners 64
Unchanged 64
Sectoral Indices.
M-O +0.14%
Financial -0.46%
Industrial -0.57%
Property -0.87%
Services -0.88%
Holdings -1.20%
The Day's Top Gainers:
KPHB: PhP 2.55; +27.50%
KPH: PhP 2.50; +25.00%
KEP: PhP 1.90; +25.00%
The Day's Biggest Decliners:
T: PhP 5.40; -6.90%
APC: PhP 0.45; -6.25%
RLC: PhP 11.25; -6.25%
At Mid-day:
Most asian markets were trading lower.
The Philippine s Peso was at PhP 43.125 vs US$ 1.00.
Tuesday, May 20, 2008
The Philippine Stock Market - May 20, 2008
Dow Jones Industrial Average (DJIA) Summary
Index Value: 13,028.16
Trade Time: May 19
Change: Up 41.36 (+0.32%)
Prev Close: 12,986.80
Open: 12,985.41
Day's Range: 12963.76 - 13136.69
The DJIA traded higher for most of the day. It mounted a strong run-up as the 13000 level was broken; and it was even up by around 150 points in the early afternoon. A sell-off cut the rally short but the DJIA still managed to close above 13000.
The rally in the US beyond the 13000 level had a lifting impact on the local equities market. The Philippine Stock Exchange Index (PSEi) opened higher and maintained its modest gains. Again, the smaller cap issues were the focus in the day's trading. The PSEi is currently testing the 2900 level.
PSEi previous close - 2887.46 (May 19)
open- 2886.04 (+8.08)
high - 2903.51 (+26.05)
close - 2896.15 (+18.69 pts or +0.65%)
Value turnover: PhP 2.662 bn
Cross transactions: PhP 1.250 bn
Advancers 71
Decliners 29
Unchanged 65
Sectoral Indices.
Holdings +1.28%
Industrial +1.06%
M-O +0.80%
Services +0.66%
Property +0.53%
Financial -0.09%
The Day's Top Gainers:
APR: PhP 3.00; +48.51%
BCB: PhP 35.00; +20.69%
PAX: PhP 3.80; +18.75%
The Day's Biggest Decliners:
CDC: PhP 1.32; -12.00%
FAF: PhP 0.65; -7.14%
MA: PhP 0.016; -5.88%
At midday:
Most asian markets were down.
The Philippine peso was at PhP 42.942 vs US$1.00
Index Value: 13,028.16
Trade Time: May 19
Change: Up 41.36 (+0.32%)
Prev Close: 12,986.80
Open: 12,985.41
Day's Range: 12963.76 - 13136.69
The DJIA traded higher for most of the day. It mounted a strong run-up as the 13000 level was broken; and it was even up by around 150 points in the early afternoon. A sell-off cut the rally short but the DJIA still managed to close above 13000.
The rally in the US beyond the 13000 level had a lifting impact on the local equities market. The Philippine Stock Exchange Index (PSEi) opened higher and maintained its modest gains. Again, the smaller cap issues were the focus in the day's trading. The PSEi is currently testing the 2900 level.
PSEi previous close - 2887.46 (May 19)
open- 2886.04 (+8.08)
high - 2903.51 (+26.05)
close - 2896.15 (+18.69 pts or +0.65%)
Value turnover: PhP 2.662 bn
Cross transactions: PhP 1.250 bn
Advancers 71
Decliners 29
Unchanged 65
Sectoral Indices.
Holdings +1.28%
Industrial +1.06%
M-O +0.80%
Services +0.66%
Property +0.53%
Financial -0.09%
The Day's Top Gainers:
APR: PhP 3.00; +48.51%
BCB: PhP 35.00; +20.69%
PAX: PhP 3.80; +18.75%
The Day's Biggest Decliners:
CDC: PhP 1.32; -12.00%
FAF: PhP 0.65; -7.14%
MA: PhP 0.016; -5.88%
At midday:
Most asian markets were down.
The Philippine peso was at PhP 42.942 vs US$1.00
Monday, May 19, 2008
The Philippine Stock Market - May 19, 2008
Local Equities continued to consolidate as the Philippine Stock Exchange Index (PSEi) moved in a narrow trading range.
PSEi previous close- 2879.95 (May 16)
open - 2882.78
high - 2884.77 (+4.82)
low - (2867.20 (-12.75)
close - 2877.46 (-2.49 pts or -0.09%)
Value turnover: PhP 2.386 bn
Cross transactions: PhP 1.593 bn
Advancers 44
Decliners 33
Unchanged 70
Sectoral Indices.
M-O +1.50%
Property +0.97%
Financial +0.43%
Holdings +0.02%
Industrial -0.18%
Services -0.71%
The Day's Top Gainers:
KPHB: PhP 1.80; +26.87%
T: PhP 5.50; +16.48%
APX: PhP 4.50; +8.43%
The Day's Biggest Decliners:
LAND: PhP 1.56; -29.09%
LIHC: PhP 6.10; -8.96%
UPM: PhP 0.51; -8.93%
Investors and punters contnue to turn their attention to the smaller cap issues. The M-O sector topped gainers and the number of advancers led the decliners despite the market ending lower. Activity in the Mining issues was perked up by the price of Gold which is at a three-week high at above the $900 an ounce level.
The Philippine Peso was at PhP 42.739 vs US$ 1.00 at midday.
PSEi previous close- 2879.95 (May 16)
open - 2882.78
high - 2884.77 (+4.82)
low - (2867.20 (-12.75)
close - 2877.46 (-2.49 pts or -0.09%)
Value turnover: PhP 2.386 bn
Cross transactions: PhP 1.593 bn
Advancers 44
Decliners 33
Unchanged 70
Sectoral Indices.
M-O +1.50%
Property +0.97%
Financial +0.43%
Holdings +0.02%
Industrial -0.18%
Services -0.71%
The Day's Top Gainers:
KPHB: PhP 1.80; +26.87%
T: PhP 5.50; +16.48%
APX: PhP 4.50; +8.43%
The Day's Biggest Decliners:
LAND: PhP 1.56; -29.09%
LIHC: PhP 6.10; -8.96%
UPM: PhP 0.51; -8.93%
Investors and punters contnue to turn their attention to the smaller cap issues. The M-O sector topped gainers and the number of advancers led the decliners despite the market ending lower. Activity in the Mining issues was perked up by the price of Gold which is at a three-week high at above the $900 an ounce level.
The Philippine Peso was at PhP 42.739 vs US$ 1.00 at midday.
Saturday, May 17, 2008
Trading in WallStreet - May 16, 2008
Dow Jones Industrial Average (DJIA)Summary
Index Value: 12,986.80
Trade Time: May 16
Change: Down 5.86 (-0.05%)
Prev Close: 12,992.66
Open: 12,992.74
Day's Range: 12893.49 - 13001.9
The DJIA was down almost a hundred points in the first half of the trading day. It however rebounded to recoup almost all of its losses and stay within striking distance of the 13000 level.
Index Value: 12,986.80
Trade Time: May 16
Change: Down 5.86 (-0.05%)
Prev Close: 12,992.66
Open: 12,992.74
Day's Range: 12893.49 - 13001.9
The DJIA was down almost a hundred points in the first half of the trading day. It however rebounded to recoup almost all of its losses and stay within striking distance of the 13000 level.
Friday, May 16, 2008
The Philippine Stock Market - May 16, 2008
Dow Jones Industrial Average (DJIA) Summary
Index Value: 12,992.66
Trade Time: May 15
Change: Up 94.28 (+0.73%)
Prev Close: 12,898.38
Open: 12,891.29
Day's Range: 12854.98 - 12999.50
Another strong afternoon rally had the DJIA close near its high and test the 13000 level again.
The Philippine Stock Exchange Index (PSEi) on the other hand; just consolidated in a narrow range after the advance the past several days.
PSEi previous close - 2878.26 (May 15)
open 2884.54
high 2887.29 (+9.03)
low 2872.97 (-5.29)
close - 2879.95 (up 1.69 points or +0.05%)
Value turnover: PhP 3.377 bn
Cross transactions: PhP 1.958 bn
Advancers 56
Decliners 37
Unchanged 73
Sectoral Indices:
M-O +1.82%
Holdings +1.58%
Financial +0.24%
Property +0.14%
Services -0.35%
Industrial -0.59%
The Day's Top Gainers:
LAND: PhP 2.20; +41.03%
MRC: PhP 0.27; +10.20%
PEP: PhP 1.08; +10.20%
The Day's Biggest Decliners:
IRCB: PhP 0.01; -9.09%
JOH: PhP 1.20; -7.69%
SFI: PhP 0.28; -6.67%
The Philippine Peso was at PhP 42.748 vs US$ 1.00 at midday
Index Value: 12,992.66
Trade Time: May 15
Change: Up 94.28 (+0.73%)
Prev Close: 12,898.38
Open: 12,891.29
Day's Range: 12854.98 - 12999.50
Another strong afternoon rally had the DJIA close near its high and test the 13000 level again.
The Philippine Stock Exchange Index (PSEi) on the other hand; just consolidated in a narrow range after the advance the past several days.
PSEi previous close - 2878.26 (May 15)
open 2884.54
high 2887.29 (+9.03)
low 2872.97 (-5.29)
close - 2879.95 (up 1.69 points or +0.05%)
Value turnover: PhP 3.377 bn
Cross transactions: PhP 1.958 bn
Advancers 56
Decliners 37
Unchanged 73
Sectoral Indices:
M-O +1.82%
Holdings +1.58%
Financial +0.24%
Property +0.14%
Services -0.35%
Industrial -0.59%
The Day's Top Gainers:
LAND: PhP 2.20; +41.03%
MRC: PhP 0.27; +10.20%
PEP: PhP 1.08; +10.20%
The Day's Biggest Decliners:
IRCB: PhP 0.01; -9.09%
JOH: PhP 1.20; -7.69%
SFI: PhP 0.28; -6.67%
The Philippine Peso was at PhP 42.748 vs US$ 1.00 at midday
Thursday, May 15, 2008
The Philippine Stock Market - May 15, 2008
Dow Jones Industrial Aveage (DJIA) Summary
Index Value: 12,898.38
Trade Time: May 14
Change: Up 66.20 (+0.52%)
Prev Close: 12,832.18
Open: 12,825.12
Day's Range: 12825.12 - 12993.15
The DJIA rebounded and at one point advanced by more than 150 points to test the 13000 level. It however gave back most of its gains in the latter part of the trading day and ended with modest gains.
After a tentative opening in the Philippine Stock Exchange (PSE); trading in select second and thirdliners picked up and boosted investor interest. The market was able to extend its advance to a seventh straight trading day as the Philippine Stock Exchange Index (PSEi) closed near its high with a gain of more than a half percent.
PSEi previous close - 2862.53
open - 2864.26
high - 2879.82 (+17.29)
low - 2854.12 (-8.41)
close - 2878.26 (+15.73 points or 0.55%)
Value turnover: PhP 2.751 bn
Cross transactions: PhP 1.291 bn
Advancers 64
Decliners 36
Unchanged 59
Sectoral Indices.
Industrial +1.71%
Services +1.16%
Property +0.13%
Financial -0.0%
M-O -0.34%
Holdings -0.78%
The Day's Top Gainers:
VVT: PhP 6.00; +20.00%
SFI: PhP 0.30; +11.11%
UW: PhP 0.15; +11.11%
The Day's Biggest Decliners:
LAND: PhP 1.56; -29.09%
BKD: PhP 1.48; -5.13%
TFC: PhP 10.00; -4.76%
The PSEi broke above its 30 day moving average and a hurdled down trendline. Even with just modest gains; advancers heavily outnumbered gainers as the smaller cap issues are becoming more active. The 2900 level is set to be tested but the advance may be capped by bouts of profit taking.
Other matters:
OFW remittances rise to $1.4 bn in March.
By midday; the Philippine Peso was at PhP 42.820 vs US$ 1.00 and most Asian equities markets were up.
Index Value: 12,898.38
Trade Time: May 14
Change: Up 66.20 (+0.52%)
Prev Close: 12,832.18
Open: 12,825.12
Day's Range: 12825.12 - 12993.15
The DJIA rebounded and at one point advanced by more than 150 points to test the 13000 level. It however gave back most of its gains in the latter part of the trading day and ended with modest gains.
After a tentative opening in the Philippine Stock Exchange (PSE); trading in select second and thirdliners picked up and boosted investor interest. The market was able to extend its advance to a seventh straight trading day as the Philippine Stock Exchange Index (PSEi) closed near its high with a gain of more than a half percent.
PSEi previous close - 2862.53
open - 2864.26
high - 2879.82 (+17.29)
low - 2854.12 (-8.41)
close - 2878.26 (+15.73 points or 0.55%)
Value turnover: PhP 2.751 bn
Cross transactions: PhP 1.291 bn
Advancers 64
Decliners 36
Unchanged 59
Sectoral Indices.
Industrial +1.71%
Services +1.16%
Property +0.13%
Financial -0.0%
M-O -0.34%
Holdings -0.78%
The Day's Top Gainers:
VVT: PhP 6.00; +20.00%
SFI: PhP 0.30; +11.11%
UW: PhP 0.15; +11.11%
The Day's Biggest Decliners:
LAND: PhP 1.56; -29.09%
BKD: PhP 1.48; -5.13%
TFC: PhP 10.00; -4.76%
The PSEi broke above its 30 day moving average and a hurdled down trendline. Even with just modest gains; advancers heavily outnumbered gainers as the smaller cap issues are becoming more active. The 2900 level is set to be tested but the advance may be capped by bouts of profit taking.
Other matters:
OFW remittances rise to $1.4 bn in March.
By midday; the Philippine Peso was at PhP 42.820 vs US$ 1.00 and most Asian equities markets were up.
Wednesday, May 14, 2008
The Philippine Stock Market - May 14, 2008
Dow Jones Industrial Average (DJIA) Summary
Index Value: 12,832.18
Trade Time: May 13
Change: Down 44.13 (-0.34%)
Prev Close: 12,876.31
Open: 12,872.08
Day's Range: 12780.97 - 12891.37
The DJIA had a modest correction after the previous day's triple digit runup.
Oil is trading near the $127 a barrel level.
The local equities market opened strong to continue on its momentum from the past days.
It however lose steam and gave up most of its gains as a bout of profit taking took over. The Philippine Stock Exchange Index (PSEi) was not able to hurdle the resistance at its 30 day moving average (m.a.).
PSEi previous close - 2849.29 (May 13)
open 2861.52
high - 2878.74 (+29.45)
low - 2850.31
close - 2862.53 (+13.24 or +0.46%)
The PSEi has advanced for the past six days already.
Advancers 44
Decliners 42
Unchanged 68
Value turnover: PhP 3.137 bn
Cross transactions: phP 1.618 bn
Sectoral Indices.
Proeprty +1.32%
Services +1.07%
Financial +1.01%
M-O -0.0%
Holdings -0.68%
Industrial -0.73%
The Day's Top Gainers:
ARA: PhP 0.46; +12.20%
PNB: PhP 37.50; +8.70%
OMW2: PhP 0.0065; +8.33%
The Day's Biggest Decliners:
MHC: PhP 0.31; -26.9%
MJC: PhP 4.20; -12.50%
UW: PhP 0.135; -10.00%
The Philippine Peso was at PhP 42.804 vs US$ 1.00 at midday.
Index Value: 12,832.18
Trade Time: May 13
Change: Down 44.13 (-0.34%)
Prev Close: 12,876.31
Open: 12,872.08
Day's Range: 12780.97 - 12891.37
The DJIA had a modest correction after the previous day's triple digit runup.
Oil is trading near the $127 a barrel level.
The local equities market opened strong to continue on its momentum from the past days.
It however lose steam and gave up most of its gains as a bout of profit taking took over. The Philippine Stock Exchange Index (PSEi) was not able to hurdle the resistance at its 30 day moving average (m.a.).
PSEi previous close - 2849.29 (May 13)
open 2861.52
high - 2878.74 (+29.45)
low - 2850.31
close - 2862.53 (+13.24 or +0.46%)
The PSEi has advanced for the past six days already.
Advancers 44
Decliners 42
Unchanged 68
Value turnover: PhP 3.137 bn
Cross transactions: phP 1.618 bn
Sectoral Indices.
Proeprty +1.32%
Services +1.07%
Financial +1.01%
M-O -0.0%
Holdings -0.68%
Industrial -0.73%
The Day's Top Gainers:
ARA: PhP 0.46; +12.20%
PNB: PhP 37.50; +8.70%
OMW2: PhP 0.0065; +8.33%
The Day's Biggest Decliners:
MHC: PhP 0.31; -26.9%
MJC: PhP 4.20; -12.50%
UW: PhP 0.135; -10.00%
The Philippine Peso was at PhP 42.804 vs US$ 1.00 at midday.
Tuesday, May 13, 2008
The Philippine Stock Market - May 13, 2008
Dow Jones Industrial Average (DJIA) Summary
Index Value: 12,876.31
Trade Time: May 12
Change: UP 130.43 (+1.02%)
Prev Close: 12,745.88
Open: 12,745.55
Day's Range: 12740.50 - 12904.16
The US equities market started slow but after about an hour of trading; it picked up and steadily advanced to close near its high.
With the triple digit advance in the DJIA; the local equities market rode strong on the momentum it built up in the past several days and immediately opened higher. And this time; the Philippine Stock Exchange Index (PSEi) held on to its gains.
PSEi previous close - 2803.49 (May 12)
open - 2839.52
low - 2834.36
high - 2852.52 (+49.03)
close - 2849.29 (+45.80 or 1.63%)
Value turnover: PhP 3.804 bn
Cross transactions: PhP 2.133 bn
Advancers 60
Decliners 31
Unchanged 71
Sectoral Indices.
Holdings +4.19%
Property +1.43%
Services +1.35%
Financial +1.02%
M-O +0.46%
Industrial -0.10%
The Day's Top Advancers:
ABSP: PhP 29.00; +13.73%
RLT: PhP 0.38; +11.76%
UW: PhP 0.15; +11.11%
The Day's Biggest Decliners:
MVC: PhP 0.58; -10.77%
APM: PhP 0.013; -7.14%
IRC: PhP 0.0095; -5.00%
Today's jump at the opening bell opened a chart gap at the 2803-2834 levels. Thus, theimmediate support is at 2803 and the next support is at 2754; the 10 day moving average (m.a.). The immediate resistance is at the 30 day m.a. which is at 2868.
The 2900 level is the likely target should the market extend its winning streak from the current five trading days before correcting.
The Philippine Peso was at PhP 42.704 vs US$ 1.00 at midday.
Index Value: 12,876.31
Trade Time: May 12
Change: UP 130.43 (+1.02%)
Prev Close: 12,745.88
Open: 12,745.55
Day's Range: 12740.50 - 12904.16
The US equities market started slow but after about an hour of trading; it picked up and steadily advanced to close near its high.
With the triple digit advance in the DJIA; the local equities market rode strong on the momentum it built up in the past several days and immediately opened higher. And this time; the Philippine Stock Exchange Index (PSEi) held on to its gains.
PSEi previous close - 2803.49 (May 12)
open - 2839.52
low - 2834.36
high - 2852.52 (+49.03)
close - 2849.29 (+45.80 or 1.63%)
Value turnover: PhP 3.804 bn
Cross transactions: PhP 2.133 bn
Advancers 60
Decliners 31
Unchanged 71
Sectoral Indices.
Holdings +4.19%
Property +1.43%
Services +1.35%
Financial +1.02%
M-O +0.46%
Industrial -0.10%
The Day's Top Advancers:
ABSP: PhP 29.00; +13.73%
RLT: PhP 0.38; +11.76%
UW: PhP 0.15; +11.11%
The Day's Biggest Decliners:
MVC: PhP 0.58; -10.77%
APM: PhP 0.013; -7.14%
IRC: PhP 0.0095; -5.00%
Today's jump at the opening bell opened a chart gap at the 2803-2834 levels. Thus, theimmediate support is at 2803 and the next support is at 2754; the 10 day moving average (m.a.). The immediate resistance is at the 30 day m.a. which is at 2868.
The 2900 level is the likely target should the market extend its winning streak from the current five trading days before correcting.
The Philippine Peso was at PhP 42.704 vs US$ 1.00 at midday.
Monday, May 12, 2008
The Philippine Stock Market - May 12, 2008
The local equities market had a listless opening and moveed in a narrow range in the first half hour of trading. A strong second-half in the day's session; however had the Philippine Stock Exchange Index (PSEi)close at its high.
PSEi previous close - 2779.42 (May 9)
open - 2776.73
low - 2775.08 (-4.34)
close - 2803.49 (+24.07 points or 0.87%)
Value turnover: PhP 9.826 bn
Cross transactions: PhP 1.999 bn
Block Sales: 809,050,000 shares of San Miguel Brewery, Inc. (SMB) which was listed today at the PSE; at PhP 8.00 (its IPO price) for a total of PhP 6,472,400,000
Advancers 52
Decliners 38
Unchanged 62
Sectoral Indices were higher across-the-board.
Holdings +1.35%
M-O +1.10%
Financial +0.87%
Services +0.52%
Property +0.27%
Industrial +0.26%
The Day's Top Advancers
CEI: PhP 0.0725; +11.54%
ETON: PhP 3.00; +11.11%
POPI: PhP 0.36; +9.09%
The Day's Biggest Decliners:
PMPC: PhP 6.50; -9.72%
OMW2: PhP 0.006; -7.69%
ETEL: PhP 2.55; -7.27%
The Philippine Peso is at the PhP 42.599 level vs $US 1.00 at noon.
The Philippine Stock Market is showing signs of stirring up as investors try to muster enough confidence. It has slowly but surely tested the resistance level at 2800 in the last few trading days and is poised for break out to higher levels. A rise in the broader market (which would include the second and thirdliner issue) is the key to a sustained run up.
********Today was the listing day of San Miguel Brewery, Inc. (SMB)
IPO Price: PhP 8.00
open: PhP 8.30
low: PhP 7.90
high: PhP 8.50
close: PhP 8.50 (+6.25%)
Value turnover: PhP 505,636,500
PSEi previous close - 2779.42 (May 9)
open - 2776.73
low - 2775.08 (-4.34)
close - 2803.49 (+24.07 points or 0.87%)
Value turnover: PhP 9.826 bn
Cross transactions: PhP 1.999 bn
Block Sales: 809,050,000 shares of San Miguel Brewery, Inc. (SMB) which was listed today at the PSE; at PhP 8.00 (its IPO price) for a total of PhP 6,472,400,000
Advancers 52
Decliners 38
Unchanged 62
Sectoral Indices were higher across-the-board.
Holdings +1.35%
M-O +1.10%
Financial +0.87%
Services +0.52%
Property +0.27%
Industrial +0.26%
The Day's Top Advancers
CEI: PhP 0.0725; +11.54%
ETON: PhP 3.00; +11.11%
POPI: PhP 0.36; +9.09%
The Day's Biggest Decliners:
PMPC: PhP 6.50; -9.72%
OMW2: PhP 0.006; -7.69%
ETEL: PhP 2.55; -7.27%
The Philippine Peso is at the PhP 42.599 level vs $US 1.00 at noon.
The Philippine Stock Market is showing signs of stirring up as investors try to muster enough confidence. It has slowly but surely tested the resistance level at 2800 in the last few trading days and is poised for break out to higher levels. A rise in the broader market (which would include the second and thirdliner issue) is the key to a sustained run up.
********Today was the listing day of San Miguel Brewery, Inc. (SMB)
IPO Price: PhP 8.00
open: PhP 8.30
low: PhP 7.90
high: PhP 8.50
close: PhP 8.50 (+6.25%)
Value turnover: PhP 505,636,500
Saturday, May 10, 2008
Trading in WallStreet - May 09, 2008
Dow Jones Industrial Average (DJIA) Summary
Index Value: 12,745.88
Trade Time: May 9
Change: Down 120.90 (-0.94%)
Prev Close: 12,866.78
Open: 12,860.68
Day's Range: 12715.02 - 12861.41
The US equities market declined from the opening bell and closed near its low.
World Crude prices moved above the $US 126 a barrel level.
Index Value: 12,745.88
Trade Time: May 9
Change: Down 120.90 (-0.94%)
Prev Close: 12,866.78
Open: 12,860.68
Day's Range: 12715.02 - 12861.41
The US equities market declined from the opening bell and closed near its low.
World Crude prices moved above the $US 126 a barrel level.
Friday, May 9, 2008
The Philippine Stock Market - May 9, 2008
Dow Jones Industrial Average (DJIA) Summary
Index Value: 12,866.78
Trade Time: May 8
Change: Up 52.43 (+0.41%)
Prev Close: 12,814.35
Open: 12,814.84
Day's Range: 12794.81 - 12909.86
The DJIA had a modest rebound from its more than 200 point drop the previos day. It traded within a range of slightly more than 100 points with an upward bias and closed at its mid point.
PSEi previous close - 2760.62 (May 8)
The market started slow and was flat for most of the session. Trading picked up in the last hour of trading and the Philippine Stock Exchange Index (PSEi) even reached a high of 2787.61 (+26.99 ).
PSEi close - 2779.42 Up 18.80 points (+0.68%)
Value turnover: PhP 3.553 bn
Cross transactions: PhP 1.769 bn
Advancers 68
Decliners 26
Unchanged 65
Sectoral Indices:
Industrial +1.87%
Holdings +1.37%
M-O +0.99%
Services +0.30%
Property +0.05%
Financial -1.07%
The Day's Top Gainers:
JOH: PhP 1.30; +18.18%
ASIA: PhP 9.00; +13.92%
PA: PhP 0.085; +9.68%
The Day's Biggest Decliners:
KPHB: PhP 1.34; -27.17%
MFC: PhP 1460; -11.52%
UW: PhP 0.14; -9.68%
Today was relatively an uneventful trading session in the Philippine Stock Market as again most investors chose to remain in the sidelines ahead of the weekend.
But the modest advance in the latter part, was also another confidence booster. Currently the 2780-2800 resistance level is being tested.
The Philippine Peso was at the PhP 42.575 level by noon.
World Crude Prices touches the US$124 a barrel level.
Index Value: 12,866.78
Trade Time: May 8
Change: Up 52.43 (+0.41%)
Prev Close: 12,814.35
Open: 12,814.84
Day's Range: 12794.81 - 12909.86
The DJIA had a modest rebound from its more than 200 point drop the previos day. It traded within a range of slightly more than 100 points with an upward bias and closed at its mid point.
PSEi previous close - 2760.62 (May 8)
The market started slow and was flat for most of the session. Trading picked up in the last hour of trading and the Philippine Stock Exchange Index (PSEi) even reached a high of 2787.61 (+26.99 ).
PSEi close - 2779.42 Up 18.80 points (+0.68%)
Value turnover: PhP 3.553 bn
Cross transactions: PhP 1.769 bn
Advancers 68
Decliners 26
Unchanged 65
Sectoral Indices:
Industrial +1.87%
Holdings +1.37%
M-O +0.99%
Services +0.30%
Property +0.05%
Financial -1.07%
The Day's Top Gainers:
JOH: PhP 1.30; +18.18%
ASIA: PhP 9.00; +13.92%
PA: PhP 0.085; +9.68%
The Day's Biggest Decliners:
KPHB: PhP 1.34; -27.17%
MFC: PhP 1460; -11.52%
UW: PhP 0.14; -9.68%
Today was relatively an uneventful trading session in the Philippine Stock Market as again most investors chose to remain in the sidelines ahead of the weekend.
But the modest advance in the latter part, was also another confidence booster. Currently the 2780-2800 resistance level is being tested.
The Philippine Peso was at the PhP 42.575 level by noon.
World Crude Prices touches the US$124 a barrel level.
Thursday, May 8, 2008
The Philippine Stock Market - May 8, 2008
Dow Jone Industrial Average (DJIA) Summary
Index Value: 12,814.35
Trade Time: May 7
Change: Down 206.48 (-1.59%)
Prev Close: 13,020.83
Open: 13,010.82
Day's Range: 12796.19 - 13036.71
The DJIA tried to hold above the 13000 level in the first hour of trading. It however steadily declined to close near its low.
PSEi previous close - 2739.43 (May 7)
The local equities market took its cue from the US and immediately opened lower. It fell by as much as 27.25 points as the Philippine Stock Exchange Index (PSEi) touched a low of 2712.18 within the first 15 minutes of trading.
However; after another half hour of trading the loss was trimmed to only 3 points and by the first hour of trading, the PSEi had moved into positive territory. By 11 am; the market has advanced by 17.10 points already.
It then consolidated in the final hour of trading and reached a high of 2762.41 (+22.98 pts) before closing at 2760.62 (+21.19 or 0.77%).
Value turnover: PhP 2.940 bn
Cross transactions: PhP 1.163 bn
Advancers 50
Decliners 44
Unchanged 55
Sectoral Indices:
Holdings +2.20%
M-O +1.24%
Property +0.91%
Services +0.72%
Financial +0.53%
Industrial -0.41%
The Day's Top Gainers:
SPM: PhP 1.20; +17.65%
ION: PhP 1.20; +9.09%
OPM: PhP 0.025; +8.70%
The Day's Biggest Decliners:
APR: PhP 2.00; -33.33%
CAT: PhP 3.00; -20.00%
ARA: PhP 0.41; -18.00%
The resiliency the Philippine Stock Market exhibited today is very welcome and is an initial step in building up investor confidence. It is a boost in sentiment that the PSEi advanced despite the more than 200 point drop in the DJIA.
Index Value: 12,814.35
Trade Time: May 7
Change: Down 206.48 (-1.59%)
Prev Close: 13,020.83
Open: 13,010.82
Day's Range: 12796.19 - 13036.71
The DJIA tried to hold above the 13000 level in the first hour of trading. It however steadily declined to close near its low.
PSEi previous close - 2739.43 (May 7)
The local equities market took its cue from the US and immediately opened lower. It fell by as much as 27.25 points as the Philippine Stock Exchange Index (PSEi) touched a low of 2712.18 within the first 15 minutes of trading.
However; after another half hour of trading the loss was trimmed to only 3 points and by the first hour of trading, the PSEi had moved into positive territory. By 11 am; the market has advanced by 17.10 points already.
It then consolidated in the final hour of trading and reached a high of 2762.41 (+22.98 pts) before closing at 2760.62 (+21.19 or 0.77%).
Value turnover: PhP 2.940 bn
Cross transactions: PhP 1.163 bn
Advancers 50
Decliners 44
Unchanged 55
Sectoral Indices:
Holdings +2.20%
M-O +1.24%
Property +0.91%
Services +0.72%
Financial +0.53%
Industrial -0.41%
The Day's Top Gainers:
SPM: PhP 1.20; +17.65%
ION: PhP 1.20; +9.09%
OPM: PhP 0.025; +8.70%
The Day's Biggest Decliners:
APR: PhP 2.00; -33.33%
CAT: PhP 3.00; -20.00%
ARA: PhP 0.41; -18.00%
The resiliency the Philippine Stock Market exhibited today is very welcome and is an initial step in building up investor confidence. It is a boost in sentiment that the PSEi advanced despite the more than 200 point drop in the DJIA.
Wednesday, May 7, 2008
The Philippine Stock Market - May 7, 2008
Dow Jones Industrial Average (DJIA) Summary
Index Value: 13,020.83
Trade Time: May 6
Change: Up 51.29 (+0.40%)
Prev Close: 12,969.54
Open: 12,968.89
Day's Range: 12863.20 - 13046.15
The DJIA started weak and was down by more than a hundred points at one point. It however recovered by the afternoon trading session and managed to close above the 13000 level.
The local equities market on the other hand was strong in the early going and was up by almost 30 points. The recovery in the US market overnight and a strong earnings report from PLDT (TEL) had investors on a bargain hunting mode. The Philippine Stock Exchange Index (PSEi) however was not able to sustain its advance and gave up most of its gains by the close of the trading day. Investors are prone to immediately take profits or are simply opting to stay liquid.
PSEi previous close - 2727.70
PSEi at today's close - 2739.43 (up 11.73 +0.43%)
Value turnover: PhP 4.178 bn
Cross transactions: PhP 1.150 bn
Block Sales: PhP 205 mn
Advancers 59
Decliners 34
Unchanged 53
Sectoral Indices:
Property +2.27%
M-O +1.92%
Financial +1.27%
Holdings +1.10%
Services -0.27%
Industrial -1.23%
The Day's Biggest Gainers:
ASIA: PhP 7.50; +11.94%
FAF: PhP 0.77; +10.00%
IRCB: PhP 0.011; +10.00%
The Day's Largest Decliners:
SPM: PhP 1.02; -15.00%
POPI: PhP 0.33; -10.81%
SPC: PhP 2.30; -8.00%
Confidence remains shaky as World Crude prices are at record highs above the $US 120 a barrel level and the inflation figure of 8.3% in April (from 6.45% in March) pushed the four month average well above the official forecast of up to only 5.0% to 6.2%.
The Philippine peso is at PhP 42.356 vs US$ 1.00 at noon.
Index Value: 13,020.83
Trade Time: May 6
Change: Up 51.29 (+0.40%)
Prev Close: 12,969.54
Open: 12,968.89
Day's Range: 12863.20 - 13046.15
The DJIA started weak and was down by more than a hundred points at one point. It however recovered by the afternoon trading session and managed to close above the 13000 level.
The local equities market on the other hand was strong in the early going and was up by almost 30 points. The recovery in the US market overnight and a strong earnings report from PLDT (TEL) had investors on a bargain hunting mode. The Philippine Stock Exchange Index (PSEi) however was not able to sustain its advance and gave up most of its gains by the close of the trading day. Investors are prone to immediately take profits or are simply opting to stay liquid.
PSEi previous close - 2727.70
PSEi at today's close - 2739.43 (up 11.73 +0.43%)
Value turnover: PhP 4.178 bn
Cross transactions: PhP 1.150 bn
Block Sales: PhP 205 mn
Advancers 59
Decliners 34
Unchanged 53
Sectoral Indices:
Property +2.27%
M-O +1.92%
Financial +1.27%
Holdings +1.10%
Services -0.27%
Industrial -1.23%
The Day's Biggest Gainers:
ASIA: PhP 7.50; +11.94%
FAF: PhP 0.77; +10.00%
IRCB: PhP 0.011; +10.00%
The Day's Largest Decliners:
SPM: PhP 1.02; -15.00%
POPI: PhP 0.33; -10.81%
SPC: PhP 2.30; -8.00%
Confidence remains shaky as World Crude prices are at record highs above the $US 120 a barrel level and the inflation figure of 8.3% in April (from 6.45% in March) pushed the four month average well above the official forecast of up to only 5.0% to 6.2%.
The Philippine peso is at PhP 42.356 vs US$ 1.00 at noon.
Tuesday, May 6, 2008
The Philippine Stock Market - May 6, 2008
Market Comments on yesterday's trading:
BusinessWorld - May 6, 2008
Dow Jones Industrial Average (DJIA) Summary
Index Value: 12,969.54
Trade Time: May 5
Change: Down 88.66 (-0.68%)
Prev Close: 13,058.20
Open: 13,056.57
Day's Range: 12939.74 - 13058.45
And because the DJIA breaks below the 13000 level and inflation hits a 3-year high in April contrary to our hopes; the local equities market reversed sentiment from yesterday.
The support levels at the 2700-2730 is once again tested.
Philippine Stock Exchange Index (PSEi)
-----previous close - 2752.93 (May 5)
-----today's close - 2727.70 (down 37.82 pts or -1.37%)
*********if the previous close is at 2752.93 and today it was down by 37.82; then the PSEi should be at 2715.11 at the end of today's trading.
Advancers 20
Decliners 63
Unchanged 63
Value turnover: PhP 4.574 bn
Cross transactions: PhP 2.468 bn
Sectoral Indices:
Property +0.02%
M-O -0.92%
Industrial -1.17%
Financial -1.22%
Services -1.57%
Holdings -1.67%
The Day's Biggest Gainers:
LAND: PhP 2.20; +29.41%
POPI: PhP 0.37; +8.82%
EVER: PhP 0.13; +8.33%
The Day's Top Decliners:
MRC: PhP 0.245; -9.26%
HI: PhP 1.74; -8.42%
MER: PhP 72.00; -8.28%
Meralco (MER) fell and closed at its low; as the call of GSIS for more transparency led to rumors of possible senate/congressional inquiries on its books and various speculations. Investors hate uncertainties.
The Philippine Peso was at the PhP 42.279 vs $US 1.00 level at mid-day.
Oil reaches $120 a barrel in World Markets.
BusinessWorld - May 6, 2008Dow Jones Industrial Average (DJIA) Summary
Index Value: 12,969.54
Trade Time: May 5
Change: Down 88.66 (-0.68%)
Prev Close: 13,058.20
Open: 13,056.57
Day's Range: 12939.74 - 13058.45
And because the DJIA breaks below the 13000 level and inflation hits a 3-year high in April contrary to our hopes; the local equities market reversed sentiment from yesterday.
The support levels at the 2700-2730 is once again tested.
Philippine Stock Exchange Index (PSEi)
-----previous close - 2752.93 (May 5)
-----today's close - 2727.70 (down 37.82 pts or -1.37%)
*********if the previous close is at 2752.93 and today it was down by 37.82; then the PSEi should be at 2715.11 at the end of today's trading.
Advancers 20
Decliners 63
Unchanged 63
Value turnover: PhP 4.574 bn
Cross transactions: PhP 2.468 bn
Sectoral Indices:
Property +0.02%
M-O -0.92%
Industrial -1.17%
Financial -1.22%
Services -1.57%
Holdings -1.67%
The Day's Biggest Gainers:
LAND: PhP 2.20; +29.41%
POPI: PhP 0.37; +8.82%
EVER: PhP 0.13; +8.33%
The Day's Top Decliners:
MRC: PhP 0.245; -9.26%
HI: PhP 1.74; -8.42%
MER: PhP 72.00; -8.28%
Meralco (MER) fell and closed at its low; as the call of GSIS for more transparency led to rumors of possible senate/congressional inquiries on its books and various speculations. Investors hate uncertainties.
The Philippine Peso was at the PhP 42.279 vs $US 1.00 level at mid-day.
Oil reaches $120 a barrel in World Markets.
Monday, May 5, 2008
The Philippine Stock Market - May 5, 2008
Philippine Stock Exchange Index (PSEi) previous close - 2722.95 (May 2,2008)
open - 2725.18 (+2.23 / day's low)
high - 2774.76 (+51.81)
close - 2752.93
The support at 2700-2730 is still holding and resistance is pegged at 2880-2300.
Value turnover: PhP 2.091 bn
Cross transactions: PhP 800 mn
Advancers 58
Decliners 30
Unchanged 58
Sectoral Indices:
M-O +2.77%
Holdings +2.03%
Services +1.96%
Financial +1.48%
Property +1.04%
Industrial +0.68%
The day's advance in the local equities market has been largely because of buying in select blue chip issues.
PSEi Movers
TEL +17.19 points
BPI +5.24 points
AC +5.13 points
The day's biggest advancers:
AT: PhP 13.25; +10.42%
PSB: PhP 44.50; +8.54%
PAX: PhP 3.30; +8.20%
The day's largest decliners:
LAND: PhP 1.70; -22.73%
MFIN: PhP 3.20; -13.51%
EVER: PhP 0.12; -7.69%
The Philippine peso was at PhP 42.350 at midday.
2008 INTERIM EARNINGS SCORECARD
1STQUARTER
As of 05 May 2008
UBP: Q1/08 - P602.5 M Q1/07 - P1.63 B -63%
BPI: Q1/08 - P1.5 B Q1/07 - P3.2 B -53%
AP: Q1/08 - P1.055 B Q1/07 - P422 M +150%
SMDC: Q1/08 - P575 M Q1/07 - P256 M +125%
BKD: Q1/08 - P173.1 M Q1/07 - P4.8 M N/A
LC: Q1/08 - P100 M Q1/07 - P57 M N/A
open - 2725.18 (+2.23 / day's low)
high - 2774.76 (+51.81)
close - 2752.93
The support at 2700-2730 is still holding and resistance is pegged at 2880-2300.
Value turnover: PhP 2.091 bn
Cross transactions: PhP 800 mn
Advancers 58
Decliners 30
Unchanged 58
Sectoral Indices:
M-O +2.77%
Holdings +2.03%
Services +1.96%
Financial +1.48%
Property +1.04%
Industrial +0.68%
The day's advance in the local equities market has been largely because of buying in select blue chip issues.
PSEi Movers
TEL +17.19 points
BPI +5.24 points
AC +5.13 points
The day's biggest advancers:
AT: PhP 13.25; +10.42%
PSB: PhP 44.50; +8.54%
PAX: PhP 3.30; +8.20%
The day's largest decliners:
LAND: PhP 1.70; -22.73%
MFIN: PhP 3.20; -13.51%
EVER: PhP 0.12; -7.69%
The Philippine peso was at PhP 42.350 at midday.
2008 INTERIM EARNINGS SCORECARD
1STQUARTER
As of 05 May 2008
UBP: Q1/08 - P602.5 M Q1/07 - P1.63 B -63%
BPI: Q1/08 - P1.5 B Q1/07 - P3.2 B -53%
AP: Q1/08 - P1.055 B Q1/07 - P422 M +150%
SMDC: Q1/08 - P575 M Q1/07 - P256 M +125%
BKD: Q1/08 - P173.1 M Q1/07 - P4.8 M N/A
LC: Q1/08 - P100 M Q1/07 - P57 M N/A
Saturday, May 3, 2008
Trading in WallStreet - May 02, 2008
Dow Jones Industrial Average(DJIA) Summary
Index Value: 13,058.20
Trade Time: May 2
Change: Up 48.20 (+0.37%)
Prev Close: 13,010.00
Open: 13,012.53
Day's Range: 12981.83 - 13132.46
The DJIA ends the week above the 13000 level.
Index Value: 13,058.20
Trade Time: May 2
Change: Up 48.20 (+0.37%)
Prev Close: 13,010.00
Open: 13,012.53
Day's Range: 12981.83 - 13132.46
The DJIA ends the week above the 13000 level.
Friday, May 2, 2008
The Philippine Stock Market - May 2, 2008
Dow Jones Industrial Average (DJIA) Summary
Index Value: 13,010.00
Trade Time: May 1
Change: Up 189.87 (+1.48%)
Prev Close: 12,820.13
Open: 12,818.34
Day's Range: 12793.10 - 13029.05
The DJIA again tested the 13000 level with a strong surge but this time it was able to hold on to its gains and close near its high.
The US economy (as measured by its Gross Domestic Product or GDP) expanded by 0.6% in the first quarter. It is technically not in recession now but is moving at a slow pace.
US Consumer Spending rose 0.4% in March.
At the Philippine Stock Exchange (PSE)
As the local equities market resumed its trading today (after the Labor day break); the Philippine Stock Exchange Index (PSEi) tried to mount an early rally to mirror WallStret's run-up. But the advance was shortlived as the bears again overpowered the bulls in the Philippine Stock Market; even as Asian markets were trying to post their steepest gains in two weeks.
PSEi previous close - 2749.77
open - 2751.14
high - 2761.20 (+11.43)
low - 2721.62 (-28.15)
close - 2722.95 down 26.82 or -0.98%
Value turnover; PHp 2.235 bn
Cross transactions: PhP 534 mn
Block Sale: PhP 349,232,400 (97,009,000 shares or 10.66% of ROX at PhP 3.60)
Advancers 36
Decliners 47
Unchanged 61
Sectoral Indices were down across-the-board
M-O -1.60%
Industrial -1.03%
Financial -0.87%
Services -0.83%
Holdings -0.74%
Property -0.32%
There were only 2 index issue gainers.
The Philippine peso was at PhP 42.309 vs $US 1.00 at noon.
The PSEi is currently testing the 2700-2733 levels as a support.
Investors are still locked in a wait-and-see attitude and most are still on a holiday mode from yesterday.
Top Gainers:
CAT: PhP 3.75; +47.06%
HI : PhP 1.90; +15.85%
FDC: PhP 3.15; +10.53%
Biggest Decliners:
PSB: PhP 41.00; -18.00%
DIZ: PhP 3.60 -10.00%
MA: PhP 0.014; -6.67%
Index Value: 13,010.00
Trade Time: May 1
Change: Up 189.87 (+1.48%)
Prev Close: 12,820.13
Open: 12,818.34
Day's Range: 12793.10 - 13029.05
The DJIA again tested the 13000 level with a strong surge but this time it was able to hold on to its gains and close near its high.
The US economy (as measured by its Gross Domestic Product or GDP) expanded by 0.6% in the first quarter. It is technically not in recession now but is moving at a slow pace.
US Consumer Spending rose 0.4% in March.
At the Philippine Stock Exchange (PSE)
As the local equities market resumed its trading today (after the Labor day break); the Philippine Stock Exchange Index (PSEi) tried to mount an early rally to mirror WallStret's run-up. But the advance was shortlived as the bears again overpowered the bulls in the Philippine Stock Market; even as Asian markets were trying to post their steepest gains in two weeks.
PSEi previous close - 2749.77
open - 2751.14
high - 2761.20 (+11.43)
low - 2721.62 (-28.15)
close - 2722.95 down 26.82 or -0.98%
Value turnover; PHp 2.235 bn
Cross transactions: PhP 534 mn
Block Sale: PhP 349,232,400 (97,009,000 shares or 10.66% of ROX at PhP 3.60)
Advancers 36
Decliners 47
Unchanged 61
Sectoral Indices were down across-the-board
M-O -1.60%
Industrial -1.03%
Financial -0.87%
Services -0.83%
Holdings -0.74%
Property -0.32%
There were only 2 index issue gainers.
The Philippine peso was at PhP 42.309 vs $US 1.00 at noon.
The PSEi is currently testing the 2700-2733 levels as a support.
Investors are still locked in a wait-and-see attitude and most are still on a holiday mode from yesterday.
Top Gainers:
CAT: PhP 3.75; +47.06%
HI : PhP 1.90; +15.85%
FDC: PhP 3.15; +10.53%
Biggest Decliners:
PSB: PhP 41.00; -18.00%
DIZ: PhP 3.60 -10.00%
MA: PhP 0.014; -6.67%
Thursday, May 1, 2008
Trading in WallStreet - April 30, 2008
Dow Jones Industrial Average(DJIA) Summary
Index Value: 12,820.13
Trade Time: April 30
Change: -11.81 (-0.09%)
Prev Close: 12,831.94
Open: 12,831.45
Day's Range: 12808.98 - 13010.00
As expected; the Federal Reserve Board cut interest rates by 25 basis points to bring it down to 2.00% but some analysts say that it left its next moves unclear.
The rates has now been trimmed by 3.25% since September 2007.
Early in the afternoon trade; the DJIA had a strong rally and the 13,000 level was even tested. Until the last hour and a half of trading; the DJIA was still up by more than 100 points. But a late sell-off wiped out the gains by the closing bell and the US equities market closed in negative territory near its day's low.
The US economy as measured by its Gross National Product (GNP) expanded by 0.6% in the first quarter.
Oil Prices currently trades below the $115 a barrel level.
Index Value: 12,820.13
Trade Time: April 30
Change: -11.81 (-0.09%)
Prev Close: 12,831.94
Open: 12,831.45
Day's Range: 12808.98 - 13010.00
As expected; the Federal Reserve Board cut interest rates by 25 basis points to bring it down to 2.00% but some analysts say that it left its next moves unclear.
The rates has now been trimmed by 3.25% since September 2007.
Early in the afternoon trade; the DJIA had a strong rally and the 13,000 level was even tested. Until the last hour and a half of trading; the DJIA was still up by more than 100 points. But a late sell-off wiped out the gains by the closing bell and the US equities market closed in negative territory near its day's low.
The US economy as measured by its Gross National Product (GNP) expanded by 0.6% in the first quarter.
Oil Prices currently trades below the $115 a barrel level.
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