Market Summary 10-June-09

After two days of decline the composite index rose 42.46 points or 1.71% to 2,530.72.There were 84 gainers, 26 losers and 46 unchanged. Giant TEL, the day most active stock, was mainly responsible for the main index's advance.

Value turnover decreased to Php2.6Bil from Php2.8Bil. Foreigners were on the selling side for the first time after five days as they sold Php83.5Mil worth of stocks.

Some top gainers are ZHI 0.36, SGI 0.80, APO 1.30, MPI 6.30.

Net losers are POPI, CEI, LR, I.

Top Business News
Leisure & Resorts net income down 27% to P28.7 million in first quarter
Leisure & Resorts World Corp. (LRWC) posted a net profit of P28.7 million in the first quarter this year, down 27.1 percent from a year ago due to lower contributions from its units.
Lodestar to develop Surigao coal mine
Publicly listed Lodestar Holdings Investment Corp. recently signed a memorandum of agreement with Oriental Vision Mining Phils. Corp. for the development of the former’s 7,000-hectare coal mine in Surigao del Sur.
National Grid completes repair of San Jose substation ahead of schedule
The National Grid Corp. of the Philippines (NGCP), the new private operator of the country’s power transmission grid has completed repair works at its San Jose substation ahead of schedule.

Market Summary 09-Jun-2009

The Philippine composite index fell 29.47 points or 1.17% to 2.488.26.
Total turnover was at Php2.84Bil inclusive of Php498.65Mil special block sale of MWC @14. Foreigners remained net buyers for the fifth consecutive trading day as they acquired Php1.04Bil worth of stocks and liquidated Php672Mil.

Losers outnumbered gainers 89 to 27 while 46 stocks were unchanged.

Top gainers with volume ABA .95, AEV 6.90, TBGI 3.65.

Top losers were ANI, MED, SUN.

TOP BUSINESS NEWS
Empire East allots P10B for projects
No pressure on SMC, says MVP
Lopez on PLDT advisory board
Chemrez eyes higher export revenues
Filinvest set to challenge Megaworld bid for North Bonifacio
Globe Telecom lists bonds in PDEx
EDC earmarks P9.6B for capex

Rumors of the Day
SMC will sell their 27% shares of Meralco at Php150.

Market Summary (June 08, 2009)

The PSEi slightly closed lower as investors took profits after last week gains. The composite index fell 10.95 points to 2,517.73, while the all-shares index fell 0.46 percent to 1,620.07 points. Market activity was slower as value turnover declined to Php2.6Bil from Php3Bil on Friday. Total net foreign buying was Php978M and net foreign selling of Php810M.

Losers outnumbered gainers 85 to 36, while 42 stocks were unchanged.
SM Investments Corp. dropped 0.8 percent to P305, while Bank of the Philippine Islands fell 1.09 percent to P45.50.

Property developer Megaworld Corp. (MEG) up 5.17 percent to P1.22, while Philippine Long Distance Telephone Co. gained 0.22 percent to P2,285.

Other big gainers AT 7.10, COL 8.70, PEP 0.69, and big losers ISM .023 which additional shares today, ZHI 0.33, SGI 0.69, PAX 2.65.