Daily Market Notes November 3, 2009
November 3, 2009 by dragon
PSEi 2,908.24 DOWN 0.26
value php 8,810,006,730.00
Last Friday's trade, October 30, 2009
DOW 249.85 -2.57% 9,712.73
NASDAQ 52.44 -2.50% 2,045.11
S&P 500 29.92 -2.81% 1,036.19
Financials also came under pressure on news that CIT Group, a U.S. lender to hundreds of thousands of small and medium-sized businesses, filed for bankruptcy on Sunday, saying goodbye to the $2 billion stimulus loan from the Federal Government.
Monday's trade, November 2, 2009
DOW 76.71 +0.79% 9,789.44
NASDAQ 4.09 +0.20% 2,049.20
S&P 500 6.69 +0.65% 1,042.88
Stocks rallied in the morning after a key manufacturing index spiked to its highest level in three and a-half years in October. An upbeat reading on pending home sales and Ford Motor's big profit report also added to the morning bounce, but gradually eroded away into negative territory. This later gave way to another volatile late session rally.
Local stocks were all watching who will blink first at the opening, when Lopez stocks decided to take the lead again with MER touching 220, FPH hitting 50. By closing, MER was still higher from last week, but closed at 213 (57m nfs), with FPH still holding on to 50 (61m nfb).
TEL dropped a little to 2575, but contributed 368m nfb. Local equities were saved by Lopez action which were triggered by newspaper articles over the weekend that Henry Sy's family may be interested in purchasing Lopez's remaining 13% stake in MER, plus redemption also came in the form of yesterday's holiday.
4.6Billion pesos of the day's trade were from PX's actual done trades and crosses, of which were 4b nfb. PX managed to close high at 13.
Other relatively huge crosses and trades from big caps that enlarged their total trades: FPH 307m, MER 329M, SM 537M (of which was 420m nfb), ALI 243M (of which was 46m nfb), TEL 533M,
By closing, the only index stock gainers were MER PX FPH, with most of them dropping like flies.
Other overall best gainers include WEB 17.25, ABA .88, SGI .74, MED .64, top losers were MRAY AB/B FAF MRC PRIM
TOTAL FOREIGN BUYING : P 6,209,239,716.84
TOTAL FOREIGN SELLING : P 1,424,169,066.72
SPECIAL BLOCK SALES:
BDO 351,800 @ P33.00 11,609,400.00
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TOTAL (P11,609,400.00) %MKT 0.132
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NO. OF ADVANCES: 18
NO. OF DECLINES: 104
NO. OF UNCHANGED: 42
NO. OF TRADED ISSUES: 164
NO. OF TRADES: 11,708
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