Standard Poor – Maniolas

Index retreats for 5th straight day

Economy

Dec 092013

MANILA, Philippines – The local bourse retreated for the fifth straight day yesterday, ignoring the climb in Asian and global markets.

The Philippine Stock Exchange index eased 0.10 percent or six points to 6,008.90, recovering from the intraday low of 5,989.08. The broader all shares index fell 0.21 percent or 7.67 points to 3,680.80.

“Against a backdrop of optimism that covers the rest of Asia, Philippine shares started the week on the same footing it ended the previous four sessions,” Justino Calaycay Jr., an analyst at Accord Capital Equities Corp.

Given the historical average increase of the main index during December, Calaycay said “the best the index could hope for would be around 6,400. Anything above it will be a welcome surprise.”

Wall Street gained on Friday amid stronger-than-expected US job creation last month. The Dow Jones Industrial average rose 1.26 percent or 198.69 points to 16,020.20, while the broader Standard & Poor’s 500 index added 1.12 percent or 20.06 points to 1,805.09.

Japan’s Nikkei 225 rallied 2.29 percent or 350.35 points to 15,650.21, while Hong Kong’s Hang Seng index picked up 0.29 percent or 68.07 points to 23,811.17.

Business ( Article MRec ), pagematch: 1, sectionmatch: 1

Most counters were in the red, paced by property firms that shed 1.18 percent or 27.81 points to 2,320.95. But holding firms improved 0.78 percent or 42.86 points to 5,537.86.

The value of shares traded slipped to P4.58 billion from P5.9 billion on Friday. Decliners outpaced advancers, 99 to 53, while 40 stocks did not change.

Market continues rally; index up 131 pts

Economy

Aug 302013

Market continues rally; index up 131 pts

MANILA, Philippines – The Philippine Stok Exchange (PSE) index rallied for the second straight day yesterday, rising 2.20 percent or 130.96 points to 6,075.17. “Equity investors found more reason to stay optimistic after US economic numbers showed the worst may be over,” said Justino Calaycay Jr., an analyst at Accord Capital Equities Corp. “European shares snapped three consecutive days of losses as the UK Parliament rejected a proposed military involvement in Syria,” Calaycay said. Geopolitical tension in Syria, particularly the potential US-led military strike, has been hounding stock markets in the past few days. Wall Street advanced anew as easing tensions was coupled with a surprising 2.5-percent second quarter gross domestic product growth in the US. The Dow Jones industrial average gained 0.1 percent or 16.44 points to 14,840.95, while the broader Standard & Poor’s 500 index rose 0.2 percent or 3.21 points to 1,638.17. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 Locally, all counters were in the green, led by property firms that rose 2.81 percent or 63.39 points to 2,319.44. “The PSEi started off with a 40-point gain and except for a momentary slide took a decidedly positive heading, breaking into the 6,000-line going into the final hour of morning trades,” Calaycay said. Turnover value spiked to P14.43 billion from P9.69 billion on Thursday. There were two advancers for every decliner. SM Investments Corp. (+1.36 percent) remained as the top traded company, followed by Ayala Land Inc. (+3.31 percent) and PLDT (+2.79 percent).

Index eases ahead of long weekend

Economy

Aug 082013

MANILA, Philippines – Local stocks barely moved yesterday as investors stayed on the sidelines ahead of a long weekend. The Philippine Stock Exchange index fell 0.26 percent or 16.56 points to settle at 6,404.23, while the broader all shares index slipped 0.13 percent or 4.93 points to 3,918.63. “The market was quiet again. It seems like most investors are already on a holiday mood given the long weekend as seen in the value turnover,” Astro del Castillo, managing director of First Grade Finance Inc. Financial markets are closed today due to Eid al-Fitr celebration. Asian bourses closed mixed, with Japan’s Nikkei 225 continuing to suffer from volatility as it declined 1.59 percent or 219.38 points to 13,605.56, while Hong Kong’s Hang Seng index inched up 0.31 percent or 67.04 points to 21,655.88. Wall Street also failed to bring good news to the local market. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 The Dow Jones industrial average lost 0.3 percent or 48.07 points to 15,470.67, while the Standard & Poor’s 500 index shed 0.4 percent or 6.46 points to 1,690.91 on disappointing earnings. In the local bourse, most subindices were in the red, led by holding firms that eased 0.37 percent or 21.21 points to 5,784.31. Mining and oil bucked the trend, barely rising 0.09 percent or 13.32 points to 14,500.33. Turnover value dropped anew to P4.18 billion from P4.94 billion on Wednesday. Advancers barely outplayed decliners, 63 to 61, while 57 stocks did not change.

Technical rebound boosts share prices

Economy

May 212013

MANILA, Philippines – A technical rebound lifted share prices yesterday, allowing the bellwether index to claw back to the 7,300 as it snapped a three-day skid. The Philippine Stock Exchange index (PSEi) rebounded 0.72 percent or 52.20 points to 7,327.58, while the broader all shares index gained 0.38 percent or 16.90 points to 4,506.74. “Technical rebound for yesterday following corrections of the PSEi in prior sessions,” Freya Natividad, analyst at online brokerage firm 2TradeAsia.com. The local market bucked the trend in Wall Street, which closed lower as investors opted to stay on the sidelines ahead of more information regarding the Federal Reserve’s economic stimulus program. The Dow Jones industrial average lost 0.1 percent or 19.12 points to 15,335.28 while the broader Standard & Poor’s 500 index shed 0.1 percent or 1.18 points to 1,666.29. Locally, most subindices were in the green, led by property firms that rallied 1.94 percent or 57.89 points to 3,047.63 while mining and oil was again a laggard, falling 0.8 percent or 140.88 points to 17,453.59. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 Decliners outplayed advancers, 100 to 70, while 49 stocks did not change. Natividad said there was no good news to push share prices higher, with investors opting to cash in on recent gains. Turnover value improved to P9.72 billion from P8.72 billion on Tuesday. Top-traded Ayala Land Inc. rallied 2.75 percent or 95 centavos to P35.50 given news that the Securities and Exchange Commission already finalized its foreign ownership cap rules.

Index inches up in listless trade

Economy

May 092013

MANILA, Philippines – The local stock market managed to eke out slight gains for the second straight session yesterday as investors exited the market ahead of a long weekend. The Philippine Stock Exchange index (PSEi) inched up 0.18 percent or 13.13 points to settle at 7,194.43, while the broader all shares index added 0.18 percent or 8.19 points to 4,481.81. “Investors appeared listless in yesterday’s trades, with the index staying generally positive despite a brief dip into negative territory before the midsession break,” said Justino Calaycay Jr., analyst at Accord Capital Securities. Financial markets will be closed on Monday for the mid-term elections. The market failed to secure an additional push from Wall Street that benefited from rosy first quarter corporate earnings. The Dow Jones industrial average gained 0.3 percent or 48.92 points to 15,105.12 while the broader Standard & Poor’s 500 index climbed 0.4 percent or 6.73 points to another record high at 1,632.69. Business ( Article MRec ), pagematch: 1, sectionmatch: 1 Locally, most counters were in the green, paced by holding firms that rose 0.38 percent or 24.77 points to 6,510.85. But mining and oil again bucked the trend, falling 0.13 percent or 24.76 points to 19,636.28. Investor participation thinned, with P6.68 billion worth of shares changing hands, down from P9.01 billion on Wednesday. Advancers outpaced decliners, 83 to 66, while 71 stocks did not change.