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Philippine stocks gain ahead of good GDP growth projection

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MANILA, Philippines—Most local stocks gained for the second consecutive session on Wednesday ahead of the release of the country’s second-quarter economic report card.

The main-share Philippine Stock Exchange index added 20.1 points, or 0.39 percent, to close at 5,195.72. Month-end window-dressing activities also helped prop up the market for the second session.

The National Statistics Coordination Board and the National Economic and Development Authority are expected to release the country’s second-quarter gross domestic product performance on Thursday. Dealers said the market was expecting good numbers.

Value turnover stood at P4.22 billion. There were 95 advancers versus 65 decliners while 31 stocks were unchanged.

All counters ended higher for the day with the exception of the mining/oil counter.

The outperformers within the index were Globe (+3.42 percent), RLC (+1.93 percent), Meralco (+1.63 percent), Metrobank (+1.39 percent) and AGI (+1.19 percent). Other stocks that led the PSEi higher were SM Prime, SMIC, Meralco, BDO, BPI, Cebu Air, JFC and Megaworld.

The non-PSEi stocks that gained in heavy volume were ABS PDRs (+2.36 percent), Security Bank (+1.65 percent) and Puregold (+0.34 percent).

On the other hand, the PSEi’s gains were tempered by the decline of AC (-0.42 percent), DMCI (-0.17 percent) and URC (-0.33 percent).

Across the region, sentiment was mixed ahead of US Federal Reserve Chairman Ben Bernanke’s much-awaited address before central bankers gathering in Jackson Hole on Friday.


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Tags: Business , business and finance , Markets and Exchanges , Philippine Stock Exchange , Philippines , Stock Activity , Stock Market , stocks

  • scusi777

    5. The DA should order for hoes, rakes and spades from local manufacturers (not importers from China) for distribution to all families in the whole country.
     
    The DA and the Bureau of Plant Industry should prepare packets of vegetable seeds for distribution for free to those who would request them; eggplant, okra, amargoso, squash, pechay, gourd, etc.
     
    The DA and the Dept of Environment and Natural Resources should organize emergency employment task forces (unemployed young men) to plant Narra, giant ipil-ipil, mabolo (kamagong), jackfruit, cacao and coffee on targeted areas like denuded mountains in Bulacan, Quezon, Samar, etc.. The same task force would manage and maintain the saplings for several years (budget appropriation item).
     
    The DA and Cocofed (what is left of it) should also organize task forces to re-plant coconut and macapuno in Laguna, Quezon and the Bicol provinces. Cacao and coffee have to be the other cash crops to be planted in the area. Coconut farmers can make good use of the garden tools.
     
     
    Both sides of NLEX and SLEX in the lower portion of the sloped sides can be planted with cassava and corn. Unemployed men can apply to apply for segment of 100-meters, maximum of 2. He will be responsible for the cyclical replanting, harvesting and cleaning of the land. The area in Quezon City govt center fronting Philam can also be planted with corn and kangkong.

  • scusi777

    5. The DA should order for hoes, rakes and spades from local manufacturers (not importers from China) for distribution to all families in the whole country.
     
    The DA and the Bureau of Plant Industry should prepare packets of vegetable seeds for distribution for free to those who would request them; eggplant, okra, amargoso, squash, pechay, gourd, etc.
     
    The DA and the Dept of Environment and Natural Resources should organize emergency employment task forces (unemployed young men) to plant Narra, giant ipil-ipil, mabolo (kamagong), jackfruit, cacao and coffee on targeted areas like denuded mountains in Bulacan, Quezon, Samar, etc.. The same task force would manage and maintain the saplings for several years (budget appropriation item).
     
    The DA and Cocofed (what is left of it) should also organize task forces to re-plant coconut and macapuno in Laguna, Quezon and the Bicol provinces. Cacao and coffee have to be the other cash crops to be planted in the area. Coconut farmers can make good use of the garden tools.
     
     Both sides of NLEX and SLEX in the lower portion of the sloped sides can be planted with cassava and corn. Unemployed men can apply for segment of lineal 100-meters, maximum of 2. He will be responsible for the cyclical replanting, harvesting and cleaning of the land. The area in Quezon City govt center fronting Philam can also be planted with corn and kangkong.

  • scusi777

    For the Philippines, there are 5 keys to economic progress, namely:

    1. Total elimination of graft and corruption.
    Schools and churches should teach and preach that gaining something that you don’t own is improper. The voters should not elect candidates that are identitfied with grafters, previous and present. Support the reforms at the Judiciary and the police.

    2.  Peace and order and the rule of law.
    Launch a decisive attack against the seccessionists, the communists and their sympathizers.

    3.  Lower electrical power and gasoline prices. There should be at least 25% excess power grid supply –

    Build hydroelectric dams and flood control water impoundment dams in places where the constructiion is feasible. Hydroelectric dams can be erected in Baguio, San Ildefonso (Bulacan) and somewhere in Agusan province.

    Build modern coal-powered plants near their mine sites.
    Ignore the pseudo-environmentalist who are more indentified with communist movement of perpetuating the misery of the people. Modern coal-fire plants have competitive pollution index that most of the alternatives. The plants should be in the area where the coal is extracted.

    Modernize the Tiwi Geothermal plants and build additional geothermal plants in places like Laguna, Negros, Davao, etc.

    Use solar energy for lighting the highways and for primary power source of traffic lights.

    The govt should subsidize manufacturing and installation of windmills and power storage batteries in rural areas. The windmills will be used for irrigation, potable water pump and for turning generators for storing derived energy to batteries. Bigger windmills can be used in flood control pumping stations during light loads.

    4. Build/procure a fleet of ships and airplanes for export-oriented industries. When I tried to start an export business, I was told to pay 40% value of my merchandise upfront which is too much for a business with limited finances. These freezer ships and airplanes will charge much lower rate than what other countries are offering.

    Numbers 1 and 2 are not the priority as they appear.



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