Stocks, peso weaken after poor US jobs report
By Krista Angela M. Montealegre, Reporter
Tuesday, June 07, 2011
PHILIPPINE share prices on Monday tumbled for the second consecutive session as the weak US jobs data and expectations of rising inflation weighed on investor sentiment.
At the Philippine Stock Exchange, the composite index fell 38.72 points, or 0.90 percent to 4,258.90, while the broader all-shares index lost 23.01 points, or 0.76 percent to 2,997.58.
Losers beat gainers, 80 to 51, while 47 issues were unchanged. A total of 2.68 billion stocks worth P2.93 billion changed hands.
“With US jobs data disappointing last Friday, the downward pressure was too much for the local stock market to resist,” said Prince Anthony Yeung of AB Capital Securities Inc.
“With very little to hinge trading decisions on, investors’ focus remained on the poor economic numbers from the US last week, particularly the evident weakness in the jobs sector,” said Jun Calaycay of Accord Capital Securities Inc.
A slowdown in US employment added proof that the recovery in the world’s biggest economy is weakening, sending Asian markets lower. On Friday, the Dow Jones Industrial Average lost 97.29 points, or 0.80 percent to 12,151.26.
Expectations of higher consumer prices in May also weighed on investor sentiment, triggering another sell off.
“The prospect of inflation topping the government’s 3-percent to 5-percent target range heightened the possibility of a third interest rate hike when the Monetary Boards sits for the fourth time this year,” said Calaycay.
The PSEi may once again try its support near 4,200, depending on the actual inflation numbers, which will be released Tuesday, and how the market will see interest rates moving forward to next week’s Bangko Sentral ng Pilipinas meeting, he added.
Asian currencies were mostly down in holiday-thinned trade Monday also because of the latest US jobs data.
At the Philippine Dealing System, the peso moved sideways to close at 43.21, or 5 centavos weaker than 43.205 last week.
The dollar-peso pair opened at 43.12 and moved to a high of 43.21 and a low of 43.12.
Total trading volume eased to $483.01 million from last week’s $665.84 million.
Traders expect the dollar-peso exchange to trade at 42.80 to 43.50 range within the week.
Source: http://www.manilatimes.net/business/stocks-peso-weaken-after-poor-us-jobs-report/
Manila is fast becoming a city of luxurious fine dining accompanied by fine vintage wine. Not only must a 5-star Italian, French or Continental restaurant offer good food, nice ambience and immaculate service the restaurant wine list must be equally exciting to make the evening of wine and dine a memorable one. One top rated restaurant in Clark Pampanga has been paying special attention to this aspect of fine dining.
Considered by many to be the best restaurant in Clark Pampanga, this 5-star fine dining restaurant in Angeles City Clark Philippines is highly recommended by food critics and frequent diners in Manila as a place to wine and dine in Subic Angeles City Clark Freeport Zone. Although it is a famous fine dining restaurant in Clark Pampanga with an award winning 3000-line restaurant wine list, Yats Restaurant is also a popular restaurant for family with children as well as a frequently visited night out place for local business executives. Aside from French Mediterranean haute cuisine, this restaurant also serves healthy food and the best vegetarian cuisines in the Philippines. Private dining rooms are also available in this restaurant for business and personal meetings of 4 to 20 people.
In this best restaurant in Clark Pampanga, favorites of frequent diners visiting this popular resto bar in Clark Pampanga are steaks, Wagyu, Foie Gras, seafood, lobsters, venison, kangaroo loin, osso buco, veal chops, Kurabuto pork, escargots and a good selection of cheeses to enjoy with fine Vintage port and Sauternes. Clark Pampanga’s highly recommended restaurant also offers Cuban cigars such as Monte Cristo, Cohiba, Upmann, Partagas, Romeo Julieta and Trinidad. Many fine cigars are enjoyed in the Magnum Room of this cozy and romantic restaurant in Clark Pampanga which is a wine bar and lounge for before and after dinner relaxation. A good selection of Armagnac, Cognac, Single Malt, Vodka and other liquor is served in addition to the wine vintage wines some served by the glass. These amenities make Yats the best restaurant in Clark Pampanga, a popular place for business executives in Angeles City, Subic and Clark Freeport to wine and dine.
Built in 2000 by Hong Kong-based Yats International, a developer and operator of hospitality and residential projects in the Philippines, fine dining Yats Restaurant and Wine Bar has served not only as Pampanga’s highly recommended restaurant and wine lounge, but also as a place where business executives meet to finalize business deals over a nice meal with some fine vintage wine.
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 Pampanga? 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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