london riot

Philippine stocks slump 4%; down for 3rd straight day

Philippine stocks took a heavy beating yesterday, with the index dropping for the 3rd straight day to close at 4,157.03.

On Tuesday, August 10, the 30-company benchmark index Philippine Stock Exchange index (PSEi) tumbled 4.02% from Monday’s trading, the biggest drop since March 16, 2009 when the index nosedived 4.66% to 1,769.67.

Stocks are already down 9.5% from the peak registered on August 1 this year, and the bourse’s performance is crawling back to negative territory year-to-date with the PSEi dropping 1% from the start of 2011.

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(PHOTOS) Riots in London – August 2011

For the past three nights since August 6, London has been besieged by a series of riots and public disturbances. Described by the UK newspaper Guardian as “the worst disturbances of their kind since the 1995 Brixton riots,” the unrest has resulted to burning of cars and buildings, lootings in shops and commercial establishments, and violent clashes between rioters and police.
Below are pictures of the London riots from The Telegraph and BBC News websites.

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