Daily Market Notes July 8, 2009
July 8, 2009 by dragon
PSEi 2,461.99 DOWN 9.77
value php 3,444,611,972.84
value sans LIB P1.5B
DOW 161.27 -1.98% 8,163.60
NASDAQ 41.23 -2.31% 1,746.17
S&P 500 17.69 -1.97% 881.03
With no new news to attribute the drop to, wall street analysts rephrase "renewed recession fears" and "doubts about the economic recovery" as the culprit.
As part of the world mourned Jackson in a memorial held at Staples Center LA via telecast, wall street continued falling.
Same story in the Psei. Won't go up dramatically, but still won't go down too much either in a typical day of paring losses by the close.
Local inflation eased, signalling more room for rate cut soon. Peso was weak at 48.3, while crude oil continued to sink to $62.
MER continued to grab the crown from TEL, gaining 8 pesos to 169 today. This gain amidst 14m nfs was worth 9.3 gained psei points, to put things in perspective.
Breadth of the market was slightly lower, with TEL on the other end of the spectrum. Contributing 9 lost psei points with its 30 peso loss to 2335.
Top news of the day was LIB's 1375% gain to 2.95. This was suspended for four years, until it was purchased recently by San Miguel. San Miguel Corp. purchased a 49-percent stake in dormant Liberty Telecom Holdings Inc, and most of these were block sold at the board today, contributing for over half the PSei's total trade.
As with some newly unsuspended stocks, floor and ceiling are reset from the usual barriers. I wonder, though, what is the criteria for this ceiling/floor selected barrier removal process, as there are a number of unsuspended stocks still having the same floor and ceiling.
Other gainers with volume came from the 2nd and 3rd liner sector: PA .075, BRN 3.2
Top losers were ZHI .3 GEO .61 OMW2 .04.
Not joining in top gainers but steadily gaining daily was PX at 7.6
TOTAL FOREIGN BUYING : P 661,903,230.59
TOTAL FOREIGN SELLING : P 611,489,602.87
SPECIAL BLOCK SALES:
LIB 97,370,000 @ P3.25 (P 316,452,500.00)
LIB 99,630,000 @ P3.25 (P 323,797,500.00)
LIB 121,050,000 @ P3.25 (P 393,412,500.00)
LIB 99,150,000 @ P3.25 (P 322,237,500.00)
LIB 64,010,000 @ P3.25 (P 208,032,500.00)
LIB 97,880,000 @ P3.25 (P 318,110,000.00)
ALI 4,601,676 @ P8.2505 (P 37,966,127.84)
——— TOTAL (P 1,920,008,627.84) %MKT 55.74 =====================
NO. OF ADVANCES: 42
NO. OF DECLINES: 44
NO. OF UNCHANGED: 54
NO. OF TRADED ISSUES: 140
NO. OF TRADES: 6,155
LEGEND:
NFB : Net Foreign Buying
NFS : Net Foreign Selling
PHP : Philippine pesos
[...] Daily Market Notes July 8, 2009 | Finance Manila – Philippines … By dragon San Miguel Corp. purchased a 49-percent stake in dormant Liberty Telecom Holdings Inc, and most of these were block sold at the board today, contributing for over half the PSei's total trade. As with some newly unsuspended stocks, floor and ceiling are reset from the usual barriers. … Subscribe to Finance Manila – Philippines, business, tech, travel, life in the News Feed · Subscribe to Finance Manila – Philippines, business, tech, travel, life in the … Finance Manila – Philippines,… – http://financemanila.net/ [...]