Daily Market Notes November 17, 2009

PSEi    3,032.09         UP     20.73
value php     3,599,631,910.00

DOW   136.49 +1.33% 10,406.96
NASDAQ 29.97 +1.38% 2,197.85
S&P 500 15.82 +1.45% 1,109.30

No other reason was attributed to wall street's sustained 1.4% rally except for the weaker dollar continued fueling speculation on stocks and commodities.

Asian stocks that opened stronger were falling by noon: Hong Kong, Japan, Korea, Australia probably anticipated correction after the highs and began selling into the rally.

Locally, it was weak at the onset.  PX'S Initial attempt to rally at 14.75 quickly fizzled and again dampened sentiments, especially at recent 2nd and 3rd liner leaders like NI ISM CPM.

TELcos led the drop: GLO TEL, followed by PX SM, but a lackluster flat trade gave way to MER's last minute run to 212, contributing 19 psei points on 47m nfb.  Read more... (240 words, estimated 58 secs reading time)

Daily Market Notes November 16, 2009

PSEi     3,011.36         DOWN   22.96
value php     4,105,654,390.00

DOW    73.00 +0.71% 10,270.47
NASDAQ 18.86 +0.88% 2,167.88
S&P 500   6.24 +0.57% 1,093.48

Before everything, else, let's vote for our very own pushcart teacher efren in cnn.com/heroes. you can vote as many times as you want.

Since saying that stocks corrected on renewed growth pessimism, gains last Friday were now attributed to growth optimism. Go figure.

Asian stocks seesawed but were mostly slightly higher.

Locally, hitting 3k drew in the buyers, plus some 550m pesos worth of crosses on SMPH puts the value turnover back to the usual 4B mark.  Likewise, some 300M worth of crosses for UBP made up for what would have been quite a lackluster day.  Read more... (255 words, 1 image, estimated 1:01 mins reading time)

Daily Market Notes November 12, 2009

PSEi    3,073.92         UP     26.78
value php      5,104,499,810.00

DOW      44.29 +0.43% 10,291.26
NASDAQ 15.82 +0.74% 2,166.90
S&P 500   5.50 +0.50% 1,098.5

PX contributes 1B pesos to total value turnover, wall street flutters slightly higher, Asia sideways to slightly lower.

Today, ALI leads the index gainers with a .5 gain to 12 worth 8 psei points backed by 45m nfb.  AC's 7.50 gain to 307.50 also contributed 5 psei points despite 22m nfs.
Third top index gainer was BDO's 2 peso gain to 38.50 despite 32m nfs.

On the losing side were the index big cap leaders MER TEL SMPH FPH.  MER can't seem to hurdle its 210 resistance.

MEG FLI's recent rise drew out sellers both local and foreign, sending both tamer from intraday highs to close at 1.64 and .95 respectively.  Read more... (266 words, estimated 1:04 mins reading time)

Daily Market Notes November 11, 2009

PSEi                 3,047.14         UP     50.43
value php                  5,711,025,735.60

DOW 20.03 +0.20% 10,246.97
NASDAQ 2.98 -0.14% 2,151.08
S&P 500 0.07 -0.01% 1,093.01

Lack of better leads plus pause from its recent attack of 10k, wall street flutters about the whole day.

For the PSEi, the break of 3k worth 50 points could be attributed mainly to these 4 stocks: TEL 19.7 psei points worth, PX 12.8, AC 10.2, ALI 8.3.

TEL's return to 2570 was thanks to u turning sentiment of 69m NFB.  GLO was not so lucky, trading flat at 1000 with 100m nfs.

SM made up for 10% of total psei trade turnover, trading 500m pesos worth, of which were 492m NFB.  The foreign buying tally would be 655m pesos sans these SM trades, 460m pesos worth of which were crosses.  Read more... (291 words, estimated 1:10 mins reading time)

Daily Market Notes November 10, 2009

PSEi      2,996.71         UP     81.00
value php   5,153,558,935.00

DOW    203.52 +2.03% 10,226.94
NASDAQ 41.62 +1.97% 2,154.06
S&P 500 23.78 +2.22% 1,093.08

CNNFN reports that the gains that brought Dow well above 10k were broad-based, with all but 1 of the 30 components in the blue-chip index closing higher. Financial and commodity-related shares led the advance.

Local value turnover swells to the 5 billion mark but all thanks to PX's 1.3 billion worth traded. Which without this trade brings us back to the usual 3.8B worth for the market in general.  Nonetheless, PX's 2.25 continued rise to 18 was worth 19 psei points for the market.  This index leader was joined only by MER's 13 peso rise to 210 worth 15 psei points, all on 58m nfb.  Read more... (306 words, estimated 1:13 mins reading time)

Daily Market Notes November 9, 2009

PSEi 2,915.71 DOWN 15.76
value php 3,168,187,615.00

DOW 17.46 +0.17% 10,023.42
NASDAQ 7.12 +0.34% 2,112.44
S&P 500 2.67 +0.25% 1,069.30

News that American unemployment hit a 26-year high of 10.2% last month saw an initial weaker open, but had buyers coming in to help dow 10k survive its bid.

In the local front, the market was already weaker at the opening, brought about by TEL's drop in its New York ADR trade to about 2,500 parity. Local TEL loses 75 pesos to 2490, worth 22 lost psei points. I guess we can factor in here the peso's depreciation from 46.++ to now 48.++, and also the recurring notion of less focus and finance may be allotted for TEL growth by the MVP group now that they have to finance their new toy MER.

Daily Market Notes November 6, 2009

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.  Read more... (350 words, 1 image, estimated 1:24 mins reading time)

Daily Market Notes November 5, 2009

PSEi   2,944.51         UP     36.88
value php     4,327,614,022.20

DOW  30.23 +0.31% 9,802.14
NASDAQ 1.80 -0.09% 2,055.52
S&P 500 1.09 +0.10% 1,046.50

Wall Street's initial rally built into the no rate hike mentality but quickly evaporated.  Maybe now they're getting to thinking that having a gradual rate hike SHOULD BE GOOD in general, because it would mean return to real growth and confidence in the economy.

Asian stocks read into this wall street retreat and did some backtracking of their own, but our very own PSEi was bolstered by movements in Lopez stocks as speculators continue to ponder who will win the final 13% stake.

Best index gainers include: ALI BPI AC (18 points worth gained total and not one of them a Lopez stock), followed by MER PX FPH GLO MBT SMC JFC.  Read more... (305 words, estimated 1:13 mins reading time)

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