Daily Market Notes December 7, 2009 Philex 9B block increases turnover

December 7, 2009 By dragon Leave a Comment

PSEi   3,046.63         DOWN   15.36
VALUE PHP    11,687,741,875.00
VALUE SANS PX BLOCK 2,193,898,075

DOW     22.75 +0.22%  10,388.90
NASDAQ 21.21 +0.98%  2,194.35
S&P 500   6.06 +0.55%  1,105.98

Employers cut 11,000 jobs from their payrolls last month, the Labor Department reported Friday. It was the smallest number of job losses since the start of the recession in December 2007, BUT investors saw this as a chance to sell the good news as the market lost 100 points from its dow's day high of up about 130.  So if it were bad news, a selloff would have occurred as well citing chance to sell on much needed correction.   

It was haywire across all the dollar affected trades with this news.  Confidence on the dollar shortly made for a currency rally, sending gold crashing to 1159, oil to 75, and the dollar retraces briefly.  Read more... (382 words, estimated 1:32 mins reading time)

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Daily Market Notes December 3, 2009

December 3, 2009 By dragon Leave a Comment

PSEi   3,090.91         DOWN   29.05
value php     2,610,103,070.00
PSEi true value turnover exposed.

DOW    18.90 -0.18% 10,452.68
NASDAQ 9.22 +0.42% 2,185.03
S&P 500 0.38 +0.03% 1,109.24

The Fed beige book reveals that the stimulus plan is working and that the economy is on track for growth.  This is saving equity markets from deeper corrections.

Asian markets were mixed, with Jappan's Nikkei as the biggest gainer on their lower yen.

PX drops 1.75 to 17.75, and made up for 15 lost psei points on the news that Walter Brown and Robert Ongpin and DBP sell their combined 9.24% shares in PX to MVP's First Pac group at 21 per share.  The latter now has a 40% stake acquired during the period of over one year.  The next biggest shareholder of PX is SSS again with a 22% stake.   With the same cast of characters, expect SSS Chair Neri to do a  Winston Garcia to possibly insist on getting bought out at 21 again via tender, like the latter is asking with Meralco "to protect government investments".  Read more... (318 words, 1 image, estimated 1:16 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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