Daily Market Notes December 2, 2009

PSEi   3,119.96         UP     22.04
value php       4,909,517,630.00

DOW    126.74 +1.23% 10,471.58
NASDAQ 31.21 +1.46% 2,175.81
S&P 500 13.23 +1.21% 1,108.86

Easing tensions over the Dubai scare and confidence in their restructuring talks brings dow to new 52 week highs, and gold to $1210.

Asia and the Philippines manage to hold on to their gains by the close.

Of the 4.9 value turnover, 1.2B came from PX, while 500m from EDC.

Top index gainers were the three leaders: TEL 2625 up 15, +5 psei points 62m nfb; PX  up .50, +4 psei points, 9m nfs; MER 219 up 2, +2.7 psei points on 6m nfb.  Read more... (210 words, estimated 50 secs reading time)

Daily Market Notes November 27, 2009

PSEi    3,044.97         DOWN   44.85
value php      66,895,317,835.00
value sans smc block:  P2.6B

DOW    30.69 +0.29% 10,464.40
NASDAQ 6.87 +0.32% 2,176.05
S&P 500 4.98 +0.45% 1,110.63

Stocks drop 3-5% around the world as Dubai World, the government investment company burdened by $59 billion of liabilities, sought to delay repayment on much of its debt.

Goldman Sachs Group Inc. analysts estimated potential credit losses at HSBC related to Dubai World may be $611 million, and $177 million for Standard Chartered, according to a research report released today. The impact on both banks will be “manageable,” the analysts wrote.  Sumitomo Mitsui Financial Group Inc., Japan’s second-largest bank by market value, may be owed at least $225 million by Dubai World, according to people familiar with the matter.
Dubai borrowed $80 billion in a four-year construction boom that transformed the sheikhdom into a regional tourism and financial hub. It suffered the world’s steepest property slump in the global recession, with home prices dropping 50 percent from their 2008 peak, according to Deutsche Bank AG.  Read more... (523 words, 2 images, estimated 2:06 mins reading time)