Daily Market Notes December 14, 2009

PSEi 3,042.10 UP 10.97
value php 1,628,900,235.00

DOW    65.67 +0.63% 10,471.50
NASDAQ 0.55 -0.03% 2,190.31
S&P 500 4.06 +0.37% 1,106.41

Stronger-than-expected November retail sales and a surprising rise in business inventories in October pointed to a recovery in consumer spending. Consumer sentiment also improved in early December lifting the S&P Retail index by 1.3%, both reasons fueling further rise of Wall Street.

Locally, the lifting of martial law in the secluded province of Maguindanao buffered any potential huge drops, and in fact saved the day that was mostly in the red, to eke out some gains by the close.

Gainers were led by the banking sector: MBT 46.5, BPI 48, BDO 39, plus TEL GLO AC BDO MER MWC.  Property/holding firms were still quiet to slightly lower: AC/ALI SMPH RLC MEG, and PX.  Read more... (302 words, estimated 1:12 mins reading time)

Daily Market Notes December 8, 2009 Out for the Holidays?

PSEi    3,012.07         DOWN   34.56
value php   3,705,624,860.00

DOW     1.21 +0.01% 10,390.11
NASDAQ 4.74 -0.22%  2,189.61
S&P 500 2.73 -0.25%  1,103.25

Wall Street goes sideways.  Asia trades flat to slightly lower.

For the local market, we have dwindling value turnover continuing.  Without URC's 1.1 Billion pesos worth of crosses, our market traded only 2.7B, giving an impression that investors' appetite for risk has taken a sideline and are now resting for the Christmas season.

Only 4 index stocks gained, albeit slightly: EDC URC MWC AEV.  About half were losers led by MER AC SM ALI BDO.

MER's 12 peso drop to 202 (breakdown of 210 support) was done on aggressive 76m net foreign selling, which didn't bode too well for FPH 50, FGEN 16.25, BPC 3.45 (but force closed to 3.55).  Read more... (256 words, estimated 1:01 mins reading time)

Longneck’s UCC’s (Useful Chit-Chats) Dec 7 ‘09

 - – -  THE EARLY AM and SUPER LATE EDITION – - -

Today marked the block sale of PX at P21.00 from RVO and co. to MVP and probably raised the speculation bar that Lolo could be next in line. This made today’s newspaper’s headlines as MA/MAB/LC/LCB are all up, higher and actively traded. MA/MAB is even the top gainer/s.

Is this a one-day wonder? Let’s hope Lolo’s dump trucks are out of commission, and are all in the North Pole scooping snow and also preparing gifts for long time believers. If there will be a follow through tomorrow, we don’t even need them to really go UP significantly. All we need is more or at par volume as what transpired today. If this happens, then this should signify accumulation, and may just be the key.  Read more... (213 words, estimated 51 secs reading time)

Daily Market Notes November 25, 2009

PSEi    3,064.30         DOWN   10.36
value php      2,987,361,500.00

DOW    17.24 -0.16% 10,433.71
NASDAQ 6.83 -0.31% 2,169.18
S&P 500 0.59 -0.05% 1,105.65

Stocks ended a volatile session with modest losses Tuesday, as the Fed's improved outlook and some signs of improvement in housing tempered a weaker revision on economic growth released in the morning. -cnnfn.com

Gold hits a high of $1171 and only PX is "Affected" amongst our local mines.  PX movement to 19.25 is actually caused by speculation of Ongpin/MVP related acquisition news.  LC/B, on the other hand, tried to rally to .023/.026 on anticipation of any possible fruitful deal with MVP.  They left MA/B behind at .023.

Index gainers were few: ICT PX EDC MBT LC ., about 1/3 unchanged, and slightly over 1/3 were losers.    Read more... (246 words, estimated 59 secs reading time)