Day trading notes

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Day trading notes

PSEi opens lower than previous close. PSEi succumbs to sell off of US stock market last friday. PSEi seems to have made a white candle by closing the trading day on its high.

News:
1. The banking industry’s NPL ratio rose to 5.29% in October from 5.19% in September.
2. Meralco files for rate hike.
3. The BSP approved BDO’s joint ventures with Sta. Lucia, Filinvest, and Crown Asia
4. IPVG Corp. increased its all-cash takeover offer for PeopleSupport to US$17/sh from only US$15/sh.
(News from the Philippine Daily Research section of Citiseconline.com; please visit their website for more information regarding these developments)

PSEi gainers: BPI, GLO, SMPH, AC, SM, JGS, HLCM, LCB
Note: Ayala companies holding the index steady with their gains

PSEi biggest loser: TEL; the index heavywieght pulled the index back 17.10 pts.

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