Trading improves on cross sales; downtrend prevails

Title

Language

English

Source

Business Day XIV (99) July 15, 1980

Year

1980

Subject

Stock exchanges -- Philippines

Rights

In Copyright - Educational Use Permitted

Fulltext

Page 16 Business Day Tuesday, July 15, 1980 The Stock Market Trading improves on cross sales; downtrend prevails The market yesterday banked on several cross sales that resulted in higher peso turnovers than the-previous session. Crosses of CDCP, San Miguel, and Republic Glass in Manila pushed up transactions in the com mercial-industrial sector to account for about 60% of the total. But such deals rarely influence prices. Even as trading in oils improved, the down trend prevalent in the market for several weeks still continued. Losers again out numbered gainers, 20 to 12, while 30 issues closed unchanged. The dry spell in the market, emanating from lack of fresh developments, weakened even those issues which showed a bit of strength last week, according to analysts. The oil sector attempted to break away from the doldrums, but the general mood of the market forced the issues to fall back, they said. The retreat of oil issues, however, was minimal. The Manila oil index dropped by .038 points, from 2.689 to 2.651 points. Oriental and Basic recorded losses among the issues participating in the Libro 1 drilling, while the others were unchanged. Analysts said that no clear indications on the results of the drilling can be deduced from the movement of the issues in the market. They added that neither were reports from the site available. Transactions in the oil sector amounted to Pl.07 million, 24% more than Friday’s P860.425. Mines traded Pl. 13 million worth from P2.68 million, or a drop of 58%. The mining shares in the big board hardly moved yesterday despite the upsurge of metal prices abrokd, which used to trigger upswings in the local mining stocks. London gold was up to $667 an ounce Friday from the previous $656.50, while New York copper closed at 97.05 cents a pound from 95.8 cents. Analysts noted that there are still un settled dampening factors in the mining sector, such as the proposal to increase ad valorem taxes on mineral exports. They said that much as investors want to acquire the issues at current prices, apprehensions over the unresolved issue prevented them from making any moves. In the C-I sector’s transactions reached P3.15 million, more than triple that of Friday’s P973,437. PLDT shares and San Miguel improved a little, but the low bid on Globe Mackay pushed the sector’s Manila index down by 1.20 points. Analysts said that there may be staggered buying in the sector, although the big placers in these issues, the institutional investors, are not giving all-out support. Top gainers were PLDT series E with a 4% improvement, Oriental B with 3.33%, and Podco with 2.85%. Top losers were CDCP Mining B which went down by 14.28%, Atlas B by 4.29%, and Overseas by 2.94%. Combined peso turnovers amounted to P5.36 million on 100.63 million shares, compared with' Friday’s P4.52 million on 180.71 million shares. MANILA STOCK EXCHANGE QUOTATIONS Monday, July 14,1980 MAKATI STOCK EXCHANGE, INC. QUOTATIONS Monday, July 14, 1980 Comm'l & Ind’l Mining O I I GRAND TOTAL STOCKS BID ASKED OPEN HIGH LOW CLOSE VOLUME COMMERCIAL & INDUSTRIAL BOARD Banco Filipino - 105.00 China Bank 240.00 — Bacnotan Cons, xc 25.00 26.50 Ayala Corp, xc 1.24 1.25 1.25 1.25 1.25 6,000 First Holdings 10.80 11.30 First Holdings x< ANSCORxs 1.28 1.30 1.30 1.30 1.30 1.30 2,000 B. F. Goodrich 13.00 14.00 CDCP 6.00 6.20 6.20 6.20 6.20 6.20 1,000 PICOP 4.30 4.50 Globe Mackay 11.50 12.00 PLDT xs xc 44.50 45.50 PLDT 10% S-F 9.30 9.35 9.30 9.30 9.30 9.30 200 PLDT 10% S-G 8.50 8.70 8.60 8.60 8.60 8.60 900 EEI 1.76 1.78 1.78 1.77 1.77 6,000 Republic Cement 11.00 14.00 SMC 27.50 28.00 28.00 28.00 27.75 27.75 19,500 SMC ’’B” 27.50 . — 27.75 27.75 27.50 27.50 5,300 Stanford Micro. 3.92 4.00 BIG BOARD Acoje .0058 .0062 .006 .006 .006 .006 100,000 Atlas-Cons. 21.20 21.30 21.40 21.40 21.30 21.30 2o'lOO Atlas Cons. ’’B" 38.50 38.50 38.50 38.50 38.50 2,050 Benguet Corp. “B” 88.00 92.00 Benguet Corp. “P” 20.00 21.00 Black Mountain .0064 .0068 Lepanto .1425 .15 .145 .145 .145 5,000 Lepanto “B” .1475 .155 Marcopper 3.04 3.22 Marlnduque 4.10 4.12 4.12 4.12 4.12 3,500 Marlnduque “B" 11.60 11.60 11.60 11.60 11.60 200 Phllex .14 .1425 .14 .14 .14 .14 570,000 Phllex ’’B” .15 .155 W. Mlnolco .0012 .0014 .0014 .0014 .0014 .0014 1,150,000 SMALL BOARD Apex .0205 .021 .021 .021 .021 .021 2,000,000 Anglo-Phil. .0078 Basic .024 .0245 .0245 .024 .024 21,750,000 Basic “B" .024 .0245 Batong Buhay .007 .0082 Hercules .008 .0082 Interport .0105 .01 .01 .01 2,100,000 Interport ’’B" .01 .0105 Landoil .009 .0094 .0092 .0092 .0092 .0092 1,000,000 Landoil “B” — — .012 .012 .012 .012 350,000 Leyte Base Metal .0035 — .004 .004 .004 .004 3,700,000 Marsteel Cons. .0078 .008 .0078 .008 .0078 .008 21,750,000 Mountain Mines “B” .01 .012 Oriental .037 .038 .038 .038 .038 .038 2,300,000 Oriental “B” .06 — .06 .06 .06 .06 420,000 Richfield .02 .0225 .02 .021 .02 .021 6,050,000 PODCO .0068 .007 .007 .007 .007 250,000 Phil. Overseas .033 Phil. Overseas "B” — .051 .051 .051 .051 90,000 POGEI .005 .0054 Sabena Mining .0086 .0092 .0094 .0096 .0094 .0094 .0094 11,000,000 Surigao .018 .0195 Trans-Asla Oil .015 .0155 .015 .015 .015 .015 1,500,000 Vulcan Ind. .014 .0145 STOCKS BID ASKED OPEN HIGH LOW CLOSE VOLUME BANKS Bank of P.l. 195.00 218.00 Cons. Bank 235.00 - 240.00 240.00 240.00 240.00 270 COMMERCIAL & INDUSTRIAL BOARD J^yala Corp. 1.26 1.28 1.26 1.26 1.26 1.26 6,000 Ayala Fund “B” 1.20 First Holdings 11.00 11.10 11.10 11.10 11.10 2,400 First Holdings “B” 11.10 12.00 A. Soriano Corp. 1.28 1.30 1.28 1.28 1.28 1,000 CDCP 5.80 6.20 6.20 6.20 6.20 6.20 202,000 EEI 1.75 Globe Mackay 11.50 11.80 BF Goodrich 13.50 14.00 PLDT 45.00 46.00 45.00 45.00 45.00 45.00 350 PLDT 10% S-A 10.40 — PLDT 10% S-B 10.40 10.40 10.40 10.40 100 PLDT 10% S-C 10.40 10.40 10.40 10.40 100 PLDT 10 S-D 10.40 PLDT 10% S-E 10.40 10.40 10.40 10.40 100 Rep. Glass 1.95 — 2.00 2.00 2.00 2.00 198,000 SMC 28.00 27.50 27.75 27.50 27.75 14,180 SMC “B” 27.75 28.00 Stanford Micro. 3.90 4.00 AGP Industrial 25.00 30.00 SUGAR Bogo Medellin — 23.00 Central Azucarera 5.00 - BIG BOARD Acoje Mining .0060 .0062 Atlas Cons. 21.30 21.50 21.40 21.40- 21.40 21.40 12,200 Atlas Cons. ’’B” 38.00 39.00 39.00 39.00 39.00 39.00 200 Benguet Cons. 27.00 30.00 Benguet Cons. “B" •88.00 92.00 Benguet Cons. Pref. 20.50 21.00 Black Mountain 7.00 .0074 Cons. Mines .0072 .0074 Cons. Mines ‘‘B’’ .0072 .0076 Island Mining .0105 .0120 Lepanto .1450 .1475 .1450 .1475 .1450 .1475 95,000 Lepanto "B” .1525 .1600 Marcopper 3.16 3.28 Marlnduque 4.18 4.20 4.20 4.20 4.20 4.20 1,000 Marlnduque „b” — Phllex Mining .1375 .1400 .1400 .1400 ’ .1375 .1400 50,000 Phllex Mining ‘‘B’’ .1500 .1575 .1550 .1550 .1550 .1550 100,000 Western Mlnolco .0013 .0014 .0014 .0014 .0014 .0014 6,000,000 SMALL BOARD Anglo-Phil. .0086 .0090 Apex .0205 .0210 .0210 .0210 .0210 .0210 1,000,000 Apex “B” — .0230 Basic .0240 .0245 .0245 .0245 .0245 .0245 500,000 Jabpract .0018 .0020 .0019 .0019 .0019 .0019 1,000,000 Landoil .0092 .0098 .0094 .0094 .0094 .0094 2,000,000 Landoil “B” .0100 .0115 Manila .0210 Manila “B” .0200 Marsteel .0076 .00'78 .0080 .0080 .0078 3,000,000 2,800,000 Oriental Petr .0380 .0390 .0390 .0390 .0380 .0380 Oriental ”B” .0600 .0620 .0620 .0620 .0620 .0620 820,000 Phil. Oil Dev. .0068 .0072 .0072 .0072 .0072 .0072 2,000,000 POGEI .0054 .0055 .0054 .0054 .0054 .0054 1,000,000 Phil. Overseas .0320 .0330 .0320 .0330 .0320 .0330 480,000 .0080 .0090 .0090 .0090 .0090 .0090 500,000 Seafront .0096 .0098 .0094 .0098 .0096 .0096 .0096 .0096 1,900,000 Surigao .0150 .0190 Trans-Asla .0155 .0150 .0150 .0150 .0150 1,000,000 .0145 .0150 CDCP .0130 .0145 1DCP “B” — .0180 .0180 .0180 .0180 200,000 fountain .0100 .0120 SHARES 3,424,500 7,958,400 13,500,000 24,882,900 VALUE AVERAGES SHARES VALUE AVERAGES Comm'l & Ind’l Mining Oil GRAND TOTAL 21,790,900 13,600,850 40,760,000 76,151,750 ODD LOT P 973,220.00 787,680.00 809,715.00 P2,570,615.00 P 3,867.60 Comm’l & Ind’l Mining Oil COMPOSITE 44.1471 — 71.9288 - .015232 — 38.7711 - .0674 .000221 .6373 NOTE: Du* to space limitation!, certain untraded stocks are usually deleted from the published lists. SECONDARY BOND MARKET QUOTATIONS Issuer Amount July 15, 1980 Maturity Coupon Rate Bid Offer Yield BF Homes PICOP P 125 M P 150 M 9-29-85 15 12-22-87 16 75 75 83.85 84.58 20.00 20.00 Source: Bancom Development Corporation P2,181,162.50 347,017.50 260,220.00 P2,788,400.00 Comm’l & Ind’l — 120.860 — 1.200 M I n Ing — 2,177.680 + .560 Oil - 2.651 - .038 PHILIPPINE STOCKS ABROAD In New York (July 11,1980) Atlas Benguet ICD Marlnduque PLDT (Common) Open High 5- 1/4 5-3/8 12 12-3/8 no trade - 1-9/16 1-5/8 6- 1/8 6-1/8 Low_ 5- 1/4 12 1-9/16 6- 1/8 Close 5-3/8 12-3/8 1-9/16 6-1/8 In Hong Kong (July 11,1980: in Hong Kong cents) Phllex Baguio Gold High Low Close 14.50 14.50 14.50 Source: Blzcon Investment and Management Corporation Volume Bid Asked up 1/2 22,500 up 1/8 41,200 down 1/16 6,300 down 1/8 500 5-1/4. 5-3/8' 12-1/4 12-3/8 1-9/16 1-11/16 6* 6-1/4 Prev. Close 14.75 Volume 50,000

pages

16

Media