The Philippine Stock Exchange index (PSEi) added 1.29% or 63.13 points to close at 4,943.84, a new record finish, while the broader all-share index edged up 0.98% or 32.09 points to 3,316.40.
The market’s rally close to the critical 5,000 level can be seen as a vote of confidence by investors on the positive direction of the global economy, investors are anticipating improved earnings results from our listed companies in the coming weeks, coupled with rosy expectations of another banner year in 2012.
For today Monday, the market was boosted beyond the 4,900 line as expectations for the Feb. 20 second bailout approval for Greece supported local barometers, as well as anticipation for better-than-expected corporate earnings growth this week which might continue to aid select stocks such as financials, property and holdings.
Domestic share turnover on Monday totaled P10.58 billion versus P8.29 billion last Friday. Advancers outnumbered decliners 105 to 63, while 41 stocks were unchanged.
Most sectoral indices ended higher, led by property that surged 4.40% or 79.90 points to 1,896.52; mining and oil, 2.69% or 677.18 points to 25,836.87; financials, 2.54% or 29.48 points to 1,191.05; holding firms, 0.98% or 38.24 points to 3,925.41; and industrial, 0.18% or 12.93 points to 7,262.42.
Services, however, lost 0.90% or 16.32 points to 1,789.17.
Property and banking stocks led market gains yesterday, Elizabeth S. Abadillo, analyst of brokerage Angping & Associates Securities, Inc., said in a text message yesterday.
Among others, BDO Unibank, Inc. surged 5.36% or P3.45 to P67.75 each, Metropolitan Bank & Trust Co. gained 3.53% or P2.90 to close at P85 apiece, while Ayala Land, Inc. rose 4.88% or P1 to P21.50.
For Tuesday, the local market is still expected to take its cue from developments in Europe.
“Attention will be focused on Europe as the region’s [finance] leaders meet today [Monday] in an attempt to tie up issues hindering the release of a €130-billion bailout, the second for troubled Athens
we expects lighter trading tomorrow Tuesday in light of celebration of Presidents Day in the US. Investor encouragement might come from the last-minute approval of the Greek bailout
For the latest updates on the stock market, visit Stock Market Today For the latest updates PRESS CTR + D or visit Stock Market news Today
Related Post:
philippines stock
- Philippines peso exchange rate forecast 2013
- Philippine stock market forecast 2013
- PSEi Index outlook september 3-7 2012
- Philippine Stock Exchange outlook august 6-10 2012
- Philippine Stock market outlook july 23-27 2012
- Philippine stock market closed June 6 2012
- Philippine Stock market outlook next week may 7 2012
- Philippine Stocks closed may 4 2012
- Philippine stocks to watch may 2 2012
- ofws guide mutual fund investing in philippines
- Philippine stock closing april 30 2012
- Philippine Stock Next week april 30-may 4 2012
- East West Banking ipo shares prices outlook
- PSEI outlook next week april 23-27 2012
- philippines gdp growth march 2012
- Philippine Stock PSEi closed rose april 16 2012
- GT capital holdings ipo shares prospectus
- current economic issues in the philippines 2012
- Philippine Stock Exchange april 4 2012
- PSEi stock outlook week feb 27 - march 2 2012
- PSEi stock outlook feb 22 2012
- colayco tips on saving money
- best stocks to invest in philippines 2012
- Philippine Stock Exchange Index (PSEI) outlook week feb 20- 24 2012
No comments:
Post a Comment