Daily Market Notes November 6, 2009
November 6, 2009 by dragon
PSEi 2,931.47 DOWN 13.04
value php 3,660,624,864.00
DOW 203.82 +2.08% 10,005.96
NASDAQ 49.80 +2.42% 2,105.32
S&P 500 20.13 +1.92% 1,066.63
Wall street soars and threatens 10k after the government reported a bigger-than-expected drop in jobless claims, and a number of retailers reported improved October sales.
Locally, Market sentiment of supposed bullishness was dampened by the uncertainty of the provisions of the MER news which disclosed that definite payment of Lopez's 6.7% shares verbally bought at 300 would in actuality only be payed for next March.
Bearing the brunt of the blast was MER's 27 peso fall to 194, which was responsible for 31 lost psei points. It is now open knowledge that MVP has control of MER but has skirted the 35% tender offer rule by distributing his MER purchases old and new to PLTL and MPI. Hence, no tender.
Likewise, a sell on news mentality on the beneficiaries of this new found cash hoard as BPC closes 4.05 (hi 4.20, 46m nfb), FPH close 56 (low 53.5, hi 57.5 9m nfb), but previous Lopez laggards EDC 4.15, FGEN 18 were higher.
Other marginal index gains from: TEL EDC PX GLO MBT SM JGS FGEN DMC ICT MEG JFC AC ABS.
Freezing 50% with 1000 volume: CA at 72. Almost ceiling with low volume: BCB REG
Top overall gainers with volume: ANI 29 (yesterday's top loser, low today 21, hi 29), ISM .045 (continued gains from yesterday), PAX 3.10 (buildup momentum on broker 333 warburg's recent buying, but he doesn't seem to want this at high 2's), IP 1.80 (Pax sentiment tag-along)
MPI continues to sink to 3 as valuation of 300 seems too much, according to number crunchers. That they recently issued a private placement at 2.5+ did not help sentiments.
TOTAL FOREIGN BUYING : P 888,323,939.20
TOTAL FOREIGN SELLING : P 821,669,670.30
SPECIAL BLOCK SALES:
Ab 8,460,448 @ P1.00 8,460,448.00
AbB 4,940,611 @ P1.00 4,940,611.00
———————
TOTAL (P13,401,059.00) %MKT 0.366
=====================
NO. OF ADVANCES: 82
NO. OF DECLINES: 45
NO. OF UNCHANGED: 52
NO. OF TRADED ISSUES: 179
NO. OF TRADES: 13,426
LEGEND:
NFB : Net Foreign Buying
NFS : Net Foreign Selling
PHP : Philippine pesos
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