Philippine stocks finish 0.4% up on volatile trading

The Philippine composite index closed yesterday higher by 15.84 points or 0.4% at 3,774.81.

Investors, returning from a four-day break last week, remained on the sidelines weighing issues such as inflation and the continuing concerns in the US economy amid rising oil prices.

But hopes that the Bangko Sentral ng Pilipinas (Central Bank) will soon cut key interest rates in response to the US Federal Reserve rate cut supported the market.

On Wednesday last week, the Federal Reserve cut its benchmark rate by 25 basis points, but said inflation remained a concern, which analysts took as a signal that the Fed will temporarily defer further rate cuts.

Here are the top 10 gainers and losers in the Philippine stock market yesterday (November 5, 2007).

Top 10 Gainers

  2. AJO.NET HOLDINGS, INC. (AJO) – 0.155 ; 6.9%
  3. BANKARD, INC. (BKD) – 2.12 ; 6.00%
  6. AYALA CORPORATION (AC) – 645.00 ; 4.03%
  8. UNIWIDE HOLDINGS, INC. (UW) – 0.27 ; 3.85%
  9. IVANTAGE CORPORATION (V) – 1.62 ; 3.85%
  10. BANK OF THE PHILIPPINE ISLANDS (BPI) – 68.00 ; 3.82%

Top 10 Losers

  1. MEDCO HOLDINGS, INC. (MED) – 0.37 ; (38.33%)
  2. DIZON COPPER-SILVER MINES, INC. (DIZ) – 10.00 ; (9.09%)
  3. TKC STEEL CORPORATION (T) – 15.25 ; (8.96%)
  4. DMCI HOLDINGS, INC. (DMC) – 11.00 ; (8.33%)
  5. OMICO CORPORATION (OM) – 0.013 ; (7.14%)
  6. CITISECONLINE.COM, INC. (COL) – 13.75 ; (6.78%)
  7. I-REMIT, INC. (I) – 5.20 ; (5.45%)
  8. WELLEX INDUSTRIES, INC. (WIN) – 0.35 ; (5.41%)
  10. FIL-ESTATE LAND, INC. (LND) – 1.06 ; (5.36%)

Legend: STOCK NAME (CODE) – Last Traded Price ; % Change

Discuss the Philippine Stock Exchange and stock trading in general in PMT’s Stock Trading Discussion Forum.

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