The Philippine Stock Market - June 17, 2008

Dow Jones Industrial Average (DJIA)Summary
Index Value: 12,269.08
Trade Time: June 16
Change: Down 38.27 (-0.31%)
Prev Close: 12,307.35
Open: 12,306.86
Day's Range: 12212.25 - 12319.72

The DJIA opened lower and traded in negative territory in the early part of the trading session as World Crude prices touched new highs near the $140 a barrel level. A late rally had the DJIA even go higher at one point and end with its losses trimmed.

The local equities market opened weak but soon found its bearings. The Philippine Stock Exchange Index (PSEi) then advanced and closed the chart gap at the 2639-2621 levels and consolidated for the rest of the session.

PSEi previous close - 2620.76 (June 16)
open - 2621.82
low - 2613.92 (-6.84)
high - 2650.76 (+30.00)
close - 2637.26 (+16.50 or +0.63%)
Market Close.

Support is at the 2575-2600 levels. Target resistance is at the 2700-2712 levels.

Value turnover: PhP 2.200 bn
Cross transactions: PhP 1.161 bn

Advancers 48
Decliners 34
Unchanged 63

Sectoral Indices.
Services +2.30%
Holdings +0.66%
M-O +0.16%
Financial +0.14%
Industrial -0.12%
Property -0.36%

The Day's Top Gainers:
CYBR: PhP 0.30; +20.00%
WIN: PhP 0.215; +13.16%
PSB: PhP 43.50; +8.75%

The Day's Biggest Decliners:
PRIM: PhP 0.30; -33.33%
ARA: PhP 0.40; -6.98%
ANS: PhP 2.80; -6.67%

At mid-day:
Asian markets were down.
The Philippine peso was at PhP 44.425 vs US$1.00.
WTI crude was at the $US 134 a barrel level.