Listing By way of Introduction, suspended – PSE

February 21, 2010 By dragon 10 Comments

The Philippine Stock Exchange (PSE) has suspended its Rules on Listing by Way of Introduction under its Revised Listing Rules and will stop accepting applications under these rules which has been considered a loophole in its stringent listing requirements.

The recently revised PSE rules allows firms to list their shares at the bourse without first undertaking an initial public offering as long as they are required to go public by law and of they commit to do an IPO within 12 months.

In a memoradum dated February 18 but posted on February 19, PSE general counsel and issuer regulation head Roel Refran said the bourse’s board decided on the temporary suspension of the rules in their meeting last February 17.  Read more... (388 words, estimated 1:33 mins reading time)

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Daily Market Notes January 15, 2010

January 15, 2010 By dragon Leave a Comment

PSEi                 3,118.47         DOWN    3.44
VALUE PHP              3,963,737,175.00

DOW    29.78 +0.28% 10,710.55
NASDAQ 8.84 +0.38% 2,316.74
S&P 500 2.78 +0.24% 1,148.46

Dow Industrials and Dow Transports both make fresh year highs together. Good as per Dow Theory.

TOTAL FOREIGN BUYING   : P  2,679,644,995.00
TOTAL FOREIGN SELLING  : P  1,792,196,061.90

NFB. Healthy.  Increasing Value turnover. Healthy.

So far so good as blue chips lead the breadth of the gainers.  Local trading index even hit a day high of 3133, which was an uptick of 15 points, succumbed to profit taking, sank 5, gained 10, but sank 3 by the close.

Here's the tally of the net foreign activity:
NFB: bdo 27m, bpi 90m, edc 240m, urc 30m, agi 107m, ac 11m only, glo 19m, tel 14m,  Read more... (278 words, estimated 1:07 mins reading time)

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Longneck’s UCC’s (Useful Chit-Chats) Nov 24 ’09

November 24, 2009 By longneck Leave a Comment

DOW’s 100pt rise last night was greeted by a muted response as although our index psei did end up gaining 26pts, market breadth was not as positive as one might have expected.

Leading the way was TEL’s P55.00 rise to P2,600 translating to 16 gained PSEi pts. This alone accounts for more than half of that 26pts. Not to be outdone, PX rise to P19.00 also gave 5 pts.

Banking except for BPI were all marginally lower to unchanged, though positive foreign fund flow into the sector is still quite visible and evident.  Read more... (395 words, estimated 1:35 mins reading time)

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Daily Market Notes November 24, 2009

November 24, 2009 By dragon Leave a Comment

PSEi   3,074.66         UP     26.66
value php       4,220,691,731.40

DOW    132.79 +1.29% 10,450.95
NASDAQ 29.97 +1.40% 2,176.01
S&P 500 14.86 +1.36% 1,106.24

Wall Street surges to fresh 52 week highs  on a strong housing report and a rally in commodities, plus weaker dollar.  Asia did not seem to bite today as they already had some semblance of a rally yesterday.

I say they not we, because as usual, the PSEi takes on an oblivious indifference to general sentiments today.  This is largely due to TEL's sole performance at 2600, carrying the market higher by 16 points and never budged from that dunce corner or principal's office.

That other leader PX surprises with a continued return to 19, also contributing 6.5 gained psei points.  Breadth of gainers were not that good but the usual 1/3 of the other gainers more or less contributed one fluctuation each.    Read more... (296 words, estimated 1:11 mins reading time)

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Daily Market Notes November 20, 2009

November 20, 2009 By dragon Leave a Comment

PSEi   3,068.73         DOWN   14.57
value php    3,445,964,990.00

DOW      93.87 -0.90% 10,332.44
NASDAQ 36.32 -1.66% 2,156.82
S&P 500 14.90 -1.34% 1,094.90

Wall street drops for the second day, Europe and Asia drop around 4 days on the average.  

At the onset of local trading, stocks were not bad in their drop, even trading flat for a sizeable duration, before some panic safety selling by the close brought us down over 30, only to recover a little by the close.  Read more... (305 words, estimated 1:13 mins reading time)

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Daily Market Notes November 19, 2009

November 19, 2009 By dragon Leave a Comment

PSEi    3,083.30         UP     30.69
value php      3,031,260,855.00

DOW 11.11 -0.11% 10,426.31
NASDAQ 10.64 -0.48% 2,193.14
S&P 500 0.37 -0.03% 1,109.80

A drop in new home construction made investors jittery about the economic recovery and wary profit outlooks weighed on the technology sector.  However, data showing initial construction of new single-family homes fell to a six-month low in October was not enough to kill this bull, as buyers came in at this dip.

Bouncing Boy PX takes the lead from MER TEL, trading 356m worth, and rising 1.25 to 16.50 worth 10 psei points.  Add to this volume of MER 239m, and TEL, 231m, ANI 171M, and you total 1Billion pesos, or 1/3 of the day's total lackluster trade.  Read more... (275 words, estimated 1:06 mins reading time)

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Daily Market Notes November 18, 2009

November 18, 2009 By dragon Leave a Comment

PSEi     3,052.61         UP     20.52
value php     4,246,223,035.00

DOW    30.46 +0.29% 10,437.42
NASDAQ 5.93 +0.27% 2,203.78
S&P 500 0.87 +0.08% 1,110.17

Correction slash rally for wall street, continued mixed rally for the pse.

Today, the oddballs PX and MER reclaimed their oddball crown and took the lead. PX rallied 1.25 to 15.25, worth 10.7 psei points, while MER gained 4 to 216 worth 4.7 points.  Granted that the past two day's drop despite wall street's 1.4% rally, I guess their trades today pretty much evens out the slate and resets the market.

Some other bluechip rotational buying could be said for ALI 12.25, MBT 46, PNB 26, BDO 39.50, URC AEV JFC DMC.  About 1/3 of the index stocks traded flat, whereas the other 1/3 cooperated with the bulls and were down only slgihtly each, led by AC's one fluctuation 5 peso drop to 305 worth 3 points.  Read more... (307 words, estimated 1:14 mins reading time)

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Daily Market Notes November 16, 2009

November 16, 2009 By dragon Leave a Comment

PSEi     3,011.36         DOWN   22.96
value php     4,105,654,390.00

DOW    73.00 +0.71% 10,270.47
NASDAQ 18.86 +0.88% 2,167.88
S&P 500   6.24 +0.57% 1,093.48

Before everything, else, let's vote for our very own pushcart teacher efren in cnn.com/heroes. you can vote as many times as you want.

Since saying that stocks corrected on renewed growth pessimism, gains last Friday were now attributed to growth optimism. Go figure.

Asian stocks seesawed but were mostly slightly higher.

Locally, hitting 3k drew in the buyers, plus some 550m pesos worth of crosses on SMPH puts the value turnover back to the usual 4B mark.  Likewise, some 300M worth of crosses for UBP made up for what would have been quite a lackluster day.  Read more... (255 words, 1 image, estimated 1:01 mins reading time)

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