Listing By way of Introduction, suspended – PSE
February 21, 2010 by dragon · Leave a Comment
The Philippine Stock Exchange (PSE) has suspended its Rules on Listing by Way of Introduction under its Revised Listing Rules and will stop accepting applications under these rules which has been considered a loophole in its stringent listing requirements.
The recently revised PSE rules allows firms to list their shares at the bourse without first undertaking an initial public offering as long as they are required to go public by law and of they commit to do an IPO within 12 months.
In a memoradum dated February 18 but posted on February 19, PSE general counsel and issuer regulation head Roel Refran said the bourse’s board decided on the temporary suspension of the rules in their meeting last February 17.
Daily Market Notes December 8, 2009 Out for the Holidays?
December 8, 2009 by dragon · Leave a Comment
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).
Daily Market Notes November 24, 2009
November 24, 2009 by dragon · Leave a Comment
PSEi 3,074.66 UP 26.66
value php 4,220,691,731.40
DOW 132.79 +1.29% 10,450.95
NASDAQ 29.97 +1.40% 2,176.01
S&P 500 14.86 +1.36% 1,106.24
Wall Street surges to fresh 52 week highs on a strong housing report and a rally in commodities, plus weaker dollar. Asia did not seem to bite today as they already had some semblance of a rally yesterday.
I say they not we, because as usual, the PSEi takes on an oblivious indifference to general sentiments today. This is largely due to TEL's sole performance at 2600, carrying the market higher by 16 points and never budged from that dunce corner or principal's office.
That other leader PX surprises with a continued return to 19, also contributing 6.5 gained psei points. Breadth of gainers were not that good but the usual 1/3 of the other gainers more or less contributed one fluctuation each.
Daily Market Notes October 9, 2009
October 9, 2009 by dragon · Leave a Comment
PSEi 2,942.78 DOWN 25.24
value php 3,618,677,865.46
DOW 61.29 +0.63% 9,786.87
NASDAQ 13.60 +0.64% 2,123.93
S&P 500 7.90 +0.75% 1,065.48
News that gunmen strafed SSS President Neri's house probably contributed to the selling jitters we experienced today. Wall street was slightly higher on ALcoa's earnings, while the rest of asia was flat to slightly higher.
Excitement in the big caps was led by FGEN's dramatic run to 17.50, which later gave way for a not so dramatic slide back to 17. FGEN experienced 21m nfs. This run then slide was mirrored by other lopez stocks: MER 192 HI, 188 close, 20m nfb, FPH apathy at 40.5 but with 75m nfb, BPC 3.6 hi, 3.4 close, with 16m nfs.
Daily Market Notes October 8, 2009
PSEi 2,968.02 UP 0.96
VALUE PHP 4,459,665,988.59
DOW 5.67 -0.06% 9,725.58
NASDAQ 6.76 +0.32% 2,110.33
S&P 500 2.85 +0.27% 1,057.58
As predicted, central banks around the world that raise rates from now on should not be a cause for worry yet for equity markets as this early, it should be treated as a sign of growth. Such a thing happened for Australia yesterday, and their equity index even shot up over 2%.
Wall street trades flat but futures surge as ALCOA surprises with a profit. Alcoa the aluminum producer is a Dow component, with which the investing public gauges growth in the industry of aluminum consumption as signs of growth in the public's spending.
Local shares really did mimic wall street to the detail, closing flat and recovering the day's minuscule losses.
