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PSEI 3,666.54 up73.13 Change 2%
Value php    6,661,439,381

Dow Jones    10,269.47    +254.75    (2.54%)
S&P 500    1,080.29    +30.96    (2.95%)
Nasdaq    2,176.84    +62.81    (2.97%)

Wall Street surges over 2.5 percent after strong U.S. and Chinese manufacturing reports relieved some of the mounting worries over the global economy.

The Philippines had such a strong day that only two index stocks declined, namely: MER SMC.

Leading the index gainers were AC +11 psei points 368, BPI +10 psei points 50.2, MBT EDC AGI PX FLI MEG.  Other bank BDO performed also well at 53.85, but PNB seems to be lagging.  hitting a 41.90 but a lot of selling brought it down to 41.25 before a close of 41.40.  Macquarie’s selling has turned less aggressive, but new seller UBS poured on the supply.  Read more... (194 words, 8 images, estimated 47 secs reading time)

PSEi 3,593.41 up 27     0.76%
value php 6,835,298,232.17

Dow Jones    10,014.72    +4.99    (0.05%)
S&P 500    1,049.33    +0.41    (0.04%)

Consumer Confidence Index for August was 53.5, up from a revised 51.0 in July, and better than the 51.0 forecasted. While positive, the reading is line with consumer confidence a year ago, meaning little has changed in the minds of consumers.  This was enough to save a plunging wall street, erasing half percent losses from early trade.  However, The bleaker news was from a reading of business activity in the Midwest, where The Chicago Purchasing Managers index came in at 56.7, a low level for the year, and weaker than the 57.6 expected for August. The index was 62.3 in July.  This caused a tug of war and netted a flat close for their major indeces.  Read more... (389 words, 8 images, estimated 1:33 mins reading time)