Philippine Stock Index Drops 1.9 Percent

[Win2Win]

Philippine shares plunged Monday as investors pocketed gains from a seven-day rally. The Philippine Stock Exchange Index fell 69.87 points, or 1.9 percent, at 3,675.82, after gaining 6.3 percent over ...

More... (http://feeds.bignewsnetwork.com/?rid=11616300&cat=0267775d6f1c3971)

[KeithD]

....and.....:Erm: :D

[andypaul]

The three they mentioned were the equivalent of bt, tesco and i guess vodafone i guess massive companies and to all lose 2 percent of their value is a big thing all companies that to a small degree rely on ofws and remitances on people abroad for income.


May be a blip or might be this christmas or just after as the avg remittance back drops quite a few percent the companies that make money off international calls, condos and money from family members sending money back to buy the chrimbo presents and celebrations foods and bits are bound to suffer.

[fred]

Andy..
Just profit taking IMO..
The PSE has performed significantly over the last 2 years..
I don't think its over by a long way.

[andypaul]

Andy..
Just profit taking IMO..
The PSE has performed significantly over the last 2 years..
I don't think its over by a long way.

Cool im no whizz on the stock markets just thinking aloud, from realtives and friends of the wife who work in or industries linked to the pse they say its on the up.

But i still wouldn't buy shares (not that i do) in any remittance or part ofw supported industries at the mo as the missus friends today when they met up, have been complaining they are sending less back for the christmas parcel (most send cash now and better value normally)
But at the rate its going they might be cheaper sending the parcels again packed with tescos own bits even with the cost of the parcel!

if its this bad for the christmas big saved up remittance what happens in the new year when cash is always short after the holidays?

I could see quite a few condos and buliding projects being forgoten or eased back on so the mortage and blls in the uk can be met.

[joebloggs]

steady inflow of funds from FWO, surely some FWO's and like me, if the php to the £ keeps falling will be sending less money to thier familes back in the phils. :NoNo:

[joebloggs]

just found an old money transfer from aug 2000 :yikes:

i sent the misses $400 usd, the £ was worth $1.46


but i'm sure i remember the £ to php being around the late 60's 4 or 5 years ago..

found this on the net USD TO PHP and USD TO £

usd to php --------------- usd to £
1990 - 2006 --------------- 1990 - 2006
1990 24.311 Peso --- 1990 0.5605 British Pound
1991 27.479 Peso --- 1991 0.5659 British Pound
1992 25.512 Peso --- 1992 0.5663 British Pound
1993 27.120 Peso --- 1993 0.6658 British Pound
1994 26.417 Peso --- 1994 0.6527 British Pound
1995 25.715 Peso --- 1995 0.6333 British Pound
1996 26.216 Peso --- 1996 0.6406 British Pound
1997 29.471 Peso --- 1997 0.6105 British Pound
1998 40.893 Peso --- 1998 0.6035 British Pound
1999 39.089 Peso --- 1999 0.6184 British Pound
2000 44.192 Peso --- 2000 0.6598 British Pound
2001 50.993 Peso --- 2001 0.6946 British Pound
2002 51.604 Peso --- 2002 0.6656 British Pound
2003 54.203 Peso --- 2003 0.6117 British Pound
2004 56.040 Peso --- 2004 0.5456 British Pound
2005 55.086 Peso --- 2005 0.5493 British Pound
2006 51.314 Peso --- 2006 0.5425 British Pound

wow 24php to 1 usd :yikes:

and look of the rise of the php to the usd from 24php to 51php, while £ to usd not changed that much

[fred]

Joe..The first time I changed 1 USD here they gave me 8 Pesos.
I think the Pound was about 14 P.
Mind you..A beer was about 75c so I never complained.

[joebloggs]

morning :D

:yikes: err the web site can go back to 1938 ! when did you first goto the philippines fred :Erm:

[joebloggs]

8 php to 1 usd

that be 1980/1981 :D

[joebloggs]

could be worse

1948 2.000 Peso
1949 2.000 Peso
1950 2.000 Peso
1951 2.000 Peso
1952 2.000 Peso
1953 2.000 Peso
1954 2.000 Peso
1955 2.000 Peso
1956 2.000 Peso
1957 2.000 Peso
1958 2.000 Peso
1959 2.000 Peso
1960 2.015 Peso
1961 2.020 Peso
1962 3.728 Peso
1963 3.910 Peso
1964 3.910 Peso
1965 3.909 Peso
1966 3.900 Peso
1967 3.900 Peso
1968 3.900 Peso
1969 3.900 Peso
1970 5.904 Peso
1971 6.432 Peso
1972 6.675 Peso
1973 6.756 Peso
1974 6.788 Peso
1975 7.248 Peso
1976 7.440 Peso
1977 7.403 Peso
1978 7.366 Peso
1979 7.378 Peso
1980 7.511 Peso
1981 7.900 Peso
1982 8.540 Peso
1983 11.113 Peso
1984 16.699 Peso
1985 18.607 Peso
1986 20.386 Peso
1987 20.568 Peso
1988 21.095 Peso
1989 21.737 Peso
1990 24.311 Peso
:yikes:

[fred]

Joe.... I was 17 at the time.

[andypaul]

steady inflow of funds from FWO, surely some FWO's and like me, if the php to the £ keeps falling will be sending less money to thier familes back in the phils. :NoNo:

Exactly and they in turn will spend less on anything but essentials