PSEi 2,907.63 DOWN 0.61
value php 3,741,110,835.00
DOW 17.53 -0.18% 9,771.91
NASDAQ 8.12 +0.40% 2,057.32
S&P 500 2.53 +0.24% 1,045.41
Stocks struggled Tuesday, ending mixed, as investors mulled improved auto sales, surging commodity prices and Warren Buffett's buyout of railroad Burlington Northern Santa Fe. The first day of the Federal Reserve's two-day policy meeting and some bearish news in the financial sector were also in play. -cnnfn
European equities were much lower than their American counterparts, but they turn positive today as of this writing. Much of Asia was mixed to higher today.
Our very own PSEi is back to arrow mode, shooting high in the air and falling back to the floor on gravity. Once again, gains of MER to 226 could not be sustained but it manages to close at 217 , giving 4 points to the plus side for our index. Other slight index gainers include: FPH 54.50, SMPH AEV SM MWC ICT MEG FLI FGEN (force closed).
Most of the index's losses came from TEL's 25 peso drop (despite posting good results of 15% rise in net income for 9 months). This drop to 2550 despite 115m nfb was worth 7 lost psei points. Other index losers that joined TEL were: EDC MBT PX BPI ABS URC GLO DMC SMC/B LC/B
Top overall gainers with relative volume were PRIM 2.55, FPH 54.50, APX/B 3.15 (after disclosing that Crew gold intend to sell its direct interest in Apex Mining Company, Inc. amounting to 211,534,806 Class B Common Shares to Mindanao Gold Limited),
The philippines is in foetal stage in reacting to positive corporate news and would rather react on government policy and budget deficit data. Aside from TEL's anemic reaction, remember last week when BDO posted 150% surge in 9 month net income and all it could muster was a .50 gain.
Other top losers: ANI 29, MHC MRC OV MPI 3.05, PRMX BHI. MPI's loss may be attributed to MVP's weakened hand in the MER deal, plus the fact that the additional 791,110,491 common shares listed last Thursday, October 29, did not help one bit. This was a private placement transaction issued to LAWL Pte. Ltd at 2.5 per share.
TOTAL FOREIGN BUYING : P 1,266,170,850.45
TOTAL FOREIGN SELLING : P 1,207,977,004.34
NO. OF ADVANCES: 52
NO. OF DECLINES: 58
NO. OF UNCHANGED: 53
NO. OF TRADED ISSUES: 163
NO. OF TRADES: 10,931
LEGEND:
NFB : Net Foreign Buying
NFS : Net Foreign Selling
PHP : Philippine pesos
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