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
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