Stock rebound on US gains
June 2, 2011
By Krista Angela M. Montealegre, Reporter
PHILIPPINE share prices bounced back on Wednesday, encouraged by an overnight rally in Wall Street as investors became more optimistic on a new bailout plan for debt-plagued Greece.
At the Philippine Stock Exchange, the composite index added 41.82 points, or 0.99 percent to 4,286.46, while the broader all-shares index gained 29.77 points, or 1 percent to 3,001.49.
A total of 3.37 billion stocks worth P4.79 billion changed hands.
Gainers outnumbered losers, 78 to 62, while 33 stocks were unchanged.
“The PSEi closed strongly, partially encouraged by the foreign market’s outcome last night,” said Maria Arlysa Narciso of AB Capital Securities Inc.
Sentiment was positive as global markets cheered the report that Germany might abandon its push for an early rescheduling of Greek bonds to lead a second international bailout for the debt-burdened nation. The Dow Jones industrial average shot up 128.21 points, or 1.03 percent to 12,569.79.
Narciso said that Wednesday’s climb also got a boost from a broad rally among all the subindices except for the holdings counter. The services sub-index led the gainers, rising 2.66 percent.
Index heavy weight Philippine Long Distance Telephone Co. rebounded following a steep decline Tuesday on increased opposition to its acquisition of Digital Telecommunications Philippines Inc. PLDT shares rose 3.26 percent to P2,404.
“If corporate developments turn rosier tomorrow and foreign markets sustain their gains, the PSEi may see another advance on Thursday,” said Narciso, adding that negative factors such as the lower-than-expected economic growth might pose a slight concern on most investors.
At the Philippine Dealing System, the local unit gained 11.5 centavos to close at 43.135 against the US dollar from Tuesday’s 43.25 finish.
Traders noted that the dollar-peso pair tracked its regional counterparts.
An analyst said the local pair was “biddish,” adding that “it was obvious players were jittery over risk on trades as such 43.31 to 41.33 offers were lifted despite the euro-dollar establishing new highs in Asia.”
The peso opened at 43.21 and moved to a high of 43.26 and a low of 43.115.
Trading volume surged to $995.94 million from $800.43 million the previous day.
The currency pair is expected to trade within a range of 43.15 to 43.45 today.
With report from Lailany P. Gomez
Source: http://www.manilatimes.net/business/stock-rebound-on-us-gains/
The location is convenient for visitors to go out of town from Manila in a short getaway with family and friends traveling north to Angeles City Clark Pampanga. Traffic along the North Expressway NLEX is always light and the new Subic Tarlac Clark Expressway ScTex takes visitors straight into Clark Freeport without going through any towns and cities along the way.
Residents of Manila travel north to Clark Pampanga to swim at Clearwater Beach Resort, unwind and relax for family bonding at hotel lake picnic grounds. Fine dining Yats Restaurant offers sumptuous cozy Christmas dinner, for wine lovers, Clark Wine Center provides exciting shopping options. After a hectic day of shopping in Clark Pampanga, visitors seldom pass up the opportunity to wine and dine at this top rated restaurant, generally regarded as the best place to eat and drink outside of Manila.
Manila residents travelling out of town to the north for holidays, vacation and getaway to Subic, Angeles City, Pampanga discover the best restaurant in Clark Philippines called Yats Restaurant. This top rated fine dining restaurant is also famous for having the best wine bar outside of Manila. Called The Magnum Room, the cozy wine bar is frequently used by guests to relax after dinner. Residents of Angeles City Pampanga, Subic and Clark Freeport frequent this wine bar to drink and unwind after work also.
For comments, inquiries and reservations click on Click here for inquiry and reservations
Restaurant@Yats-International.com
(045) 599-5600
0922-870-5178
0917-520-4401
Ask for Pedro and Rechel
Getting to this fine dining restaurant of Angeles City Clark Freeport Zone Pampanga Philippines
How to get to this fine-dining restaurant in Clark Philippines? Once you get to Clark Freeport, go straight until you hit Mimosa. After you enter Mimosa, stay on the left on Mimosa Drive, go past the Holiday Inn and Yats Restaurant (green top, independent 1-storey structure) is on your left. Just past the Yats Restaurant is the London Pub.
Yats Restaurant & Wine Bar
Mimosa Drive past Holiday Inn, Mimosa Leisure Estate,
Clark Freeport Zone, Pampanga, Philippines 2023
Manila Sales Office
3003C East Tower, Phil Stock Exchange Center,
Exchange Rd Ortigas Metro Manila, Philippines 1605
(632) 637-5019 0917-520-4393 Rea or Chay
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For assistance in hotel and resort bookings in Clark, Pampanga, Philippines, log on to
http://www.HotelClarkPhilippines.com
To buy wine in Manila, Pampanga, Angeles City, Clark or Subic please log on to http://www. ClarkWineCenter.com
To inquire with the highly recommended beach resort hotel in Clark Pampanga visit http://www.ClearwaterPhililippines.com
For more information about Clark, Pampanga, Philippines log on to
http://www.ClarkPhilippines.com
