First Metro Asset Management Inc

No Cause for Alarm by Gus Cosio

Wall street is up three days in a row strongly driven by what has progressed in Europe as the Greek parliament legislates very tough auterity measure. Last night’s rally in both the DJIA and the S&P 500 was lead by a surge in the prices of banking stocks. It may just be investors taking a sigh of relief over an averted bankruptcy which would have been the first European country to go under. In spite of Greece’s apparent resolve to put its economic house in order, the worst is not yet over. We have to see their economy survive such draconian measures which include increasing VAT to 23%, raising property taxes, and putting a levy on all luxury items such as yachts and swimming pools. I hope the cure is better than the sickness. Read more

Index of Influence by Gus Cosio

6:55 pm 27 June 2011

Philippine stocks may be a phenomenon to itself. We saw stock prices sell off slightly at the open, but they soon recovered at mid-session although giving up all these gains to close down. Actually, the 2.15 point set-back is nothing to crow about considering it happened in the back of net foreign selling of Php 136 million. What I see to be a concern is the declining value turnover over the past few trading days. I think as we close the quarter, we can anticipate some window dressing, but I would like to approach the market with greater caution this time. Read more

The Next Couple of Days by Gus Cosio

9:15 pm Sunday 26 June 2011

Our market has been buffeted by the U.S. markets lately, and it does not seem to me that the DJIA nor the S&P 500 are going anywhere. Infact, udging from the economic news coming out, we may see that market even moving lower. Goldman Sachs just cut it’s 2Q-2011 growth forecast from 4% to 2% while the Federal reserve downgraded its full year growth forecast from 3.4% to 3%. Read more

FAMI conducted its Annual Shareholder’s Meeting

First Metro Asset Management, Inc., a subsidiary of First Metro Investment Corporation (FMIC) and part of the Metrobank Group, recently concluded its Annual Shareholder’s Meeting for its Save and Learn Mutual Funds that last June 15, 2011 at the 19th floor of PSBank Center, Makati City. Read more

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