Daily Market Notes Tuesday May 22 2007

PSEi                 3,505.03         UP     38.69
VALUE PHP                7,267,489,415.00

We close .60 from the day high, and already past that 3447 high last Feb of 1997, which was an altogether differently composed index back then.

Unquestionably showing yet more muscle was Meralco B MERB, up 4.50 to 94 but with 27M NFS.

Another saving grace was local Pldt TEL that was higher by 10 at 2550 with 44M NFB, despite being down last night by 1%, corresponding to something like a parity of 2510 from its New York listed ADR.

The banking sector's top performers were higher by 2 or three fluctuations but with big NFB:  Banco De Oro BDO 69, up, 103M php NFB; BPI 70 up, 115M php nfb; Metrobank MBT 66.5 up, 187M NFB.  RCB was close by, 31.50, up 61M.