PSEi 2,492.30 UP 8.91
value php 22,694,086,500.00
VALUE sans MER : 2.6B Php
DOW 185.16 +2.22% 8,331.68
NASDAQ 37.18 +2.12% 1,793.21
S&P 500 21.92 +2.49% 901.05
Banking analyst Meredith Whitney upgrades Golman, and some head and shoulders waiters played catch up on the markets. Some other bearish signals were ignored: banking analyst Meredith Whitney. bloomberg reports that The last
time stocks in developing countries got this expensive was in October 2007, just before the MSCI Emerging Markets Index began a 12-month tumble that erased half its value.
Right shoulder for the djia: 8600, and for the snp 930. These resistance
levels must be taken out to negate that Head and shoulders pattern that is keeping watchers at bay. But cnbc reports that gains came with anemic value turnover.
Locally, an early morning cross of 222M shares of MER at 90 worth 20B Pesos increased value turnover by 88%. This was the MER bought by MVP group from the Lopezes months ago. MER at that time was doing 177, and was quickly sold off and closed at 168. This chain reaction selloff left the other trio laggards FPH FGEN EDC back to sellsville, with only BPC falling to 2.34 and managing to claw back higher to 2.42.
Other asian markets that experienced 2 to 3% drops of late, also experienced strong rallies today.
The gains of AC TEL LC made for 9 gained psei points, while MER's 6 peso loss
was worth7 psei points.Impressive gains on the Felipe Yap mining front in the last hour, as LC/B .225/.225 ma/b .017/.018 surged their pants off on repeated rumors of an MVP deal.
LIB that announced a preferred share to its subscriber buy in partners worth 3, and at the same time announced dilution via increased in authorized capital whereby the Corporation’s authorized capital stock would be increased from Two Billion Pesos (P2,000,000,000.00) to Six Billion Eight Hundred Million Pesos (P6,800,000,000.00).
TOTAL FOREIGN BUYING : P 1,324,880,971.05
TOTAL FOREIGN SELLING : P 1,389,101,788.32
SPECIAL BLOCK SALES:
MER 111,500,000 @ P90.00 10,035,000,000.00
111,500,000 @ P90.00 10,035,000,000.00
TOTAL (P20,070,000,000.00) %MKT 88.44
=====================
NO. OF ADVANCES: 64
NO. OF DECLINES: 35
NO. OF UNCHANGED: 52
NO. OF TRADED ISSUES: 151
NO. OF TRADES: 7,055
LEGEND:
NFB : Net Foreign Buying
NFS : Net Foreign Selling
PHP : Philippine pesos
About dragon
Informative blog.Its great that you post blog regarding the Dily Market.