Thursday, July 3, 2014

Writing A Business Story

 What you see below amounts to an audition for The Manila Times. Yes I do my fun pieces and my rants here and elsewhere but I have not had this mindset in writing since working at the high school newspaper. Those numbers are real from the PSE website and that quote is real. Who knows I may have a few more in me? Speaking of karmic justice, I hope to be a recipient in this life after doing a lot of this in a previous life.


PSE's Bouncing Trend Continues Into July

As of midday July 3 2014, the PSE's performance seems to be still taking its cue from June. The Philippine Stock Exchange index (PSEi) closed up 43.70 points, or  .64 percent higher at 6,894.30, while the wider all shares added 24.57 points, or 0.60 percent to finish Wednesday’s morning session at 4,129.06.

Ali Yu, President of brokerage R.S. Lim and Company said that the trend of bouncing between 6500 and 6900 has been going on for a while. Traders have been treating 6900 as a sign to get out. However if the market breaks through 6500 with volume "all bets are off". Yu added that that the political mood can affect trading in the coming weeks. He specifically mentioned karmic law seems to be working its way to our local scene. What was being done to the former president seems to be finding its way to the current president. 

 All  the sectoral indices paused in   positive territory  at  the midday break. Lead by the property index   advancing 29.33 points or 1.13 percent to   2,618.68. Followed by the financial sector rising by 13.17 points or 0.80 percent to    1,659.26.  Industrials climbed by 56.09 points or 0.54 percent to    10,408.87         .  Mining and Oil is up 76.79 or .47 percent to 16,591.68.  Holding Firms up 28.83 points or 0.46 percent to 6,266.50. Services sector up 8.62 points or 0.42 percent to  2,060.31.

Total volume at the break is 746,306,935 shares coming from 19,336 transactions for a total value of 2,979,599,115.00 pesos. Number of advancers double the number of the decliners 113 to 57 while 43 stocks remain unchanged. 

Stocks seeing the most trading in the morning were Philippine Long Distance Telephone Co., ending up  0.34 percent at P2,988.00;  Universal Robina Corp., up 1.31 percent at P155.90; Bank Of The Philippine Islands., up 1.60  percent at P95 ; Alliance Global Group, Inc., down .25 percent at P29.10.  Finally Metropolitan Bank., up 1.25 percent at P89.40.

 On Thursday , the PSEi closed the morning session  up 43.70 points, or  .64 percent higher at 6,894.30, . The wider all shares added 24.57 points, or 0.60 percent to finish Wednesday’s morning session at 4,129.06.

Edward Lopez

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