U.S. Rate News Boosts Market
May 03, 2011
The Philippine Stock Exchange Index gained 20.87 to 3111.56 on volume of 3.90 billion shares. Advancers led decliners 84 to 27, with 66 issues unchanged. Investors focused on Uniwide Holdings as its newly listed shares pushed past the offering price of 4.80 pesos for the first time since its Monday debut to 5.30 pesos. Analysts said Uniwide accounted for 874 million pesos of the market's total volume, initially valued at around 2.9 billion pesos. Asia Amalgamated Holdings, formerly Energy Corp., added 2 centavos to 7.50 centavos on speculation over its pending stock rights offer, analysts said. AAHC plans to raise 600 million pesos by offering three news shares at 1 centavo each for every share held by stockholders on record. The record date has yet to be set. Ayala's Class B shares tumbled 50 centavos to 30.50 pesos on profit-taking, while Universal Rightfield Property Holdings rose 30 centavos to 4.15 pesos. The commercial and industrial index was up 34.45 to 4240.70, the property index rose 0.68 to 161.13, the mining index lost 6.89 to 2524.04 and the oil index was unchanged at 5.87.
VastPress 2011 Vastopolis
