Stocks nearing 6,000 mark

A+
A
A-

Local stocks surged to a new high for the third day in a row, lifting the main index Friday closer to the crucial 6,000 mark.

 

The Philippine Stock Exchange index added 37.4 points, or 0.63 percent, to close at 5,971.45, breaking the market’s records in intraday trade and closing level.

 

Value turnover amounted to P7.59 billion. There were 98 advancers against 67 decliners, while 49 stocks were unchanged. All counters ended higher except for the industrial sub-index.

 

Most stock markets in the region fell on profit-taking Friday, especially after the US Federal Open Market committee aired its concerns on the impact of the US central bank’s bond-buying program under its quantitative easing program.

 

Despite an overnight pullback in US equities, Metrobank said in its daily research note that turnover was expected to pick up as institutional investors come back from their holiday break.  Doris C. Dumlao

Disclaimer: The comments uploaded on this site do not necessarily represent or reflect the views of management and owner of INQUIRER.net. We reserve the right to exclude comments that we deem to be inconsistent with our editorial standards.

  • http://pulse.yahoo.com/_GUZISWUMVDD5QJUC7GBJKEM7XA prangka

    Laggards both ang SMC and SMDC. Obviously it has to do with credibility.

    • sorbetero

      Whose credibility?? Ang & Sy??

  • Diablo_III

    Hopefully the stocks will reach 12,000 by 2016…

To subscribe to the Philippine Daily Inquirer newspaper in the Philippines, call +63 2 896-6000 for Metro Manila and Metro Cebu or email your subscription request here.

Factual errors? Contact the Philippine Daily Inquirer's day desk. Believe this article violates journalistic ethics? Contact the Inquirer's Reader's Advocate. Or write The Readers' Advocate:

c/o Philippine Daily Inquirer Chino Roces Avenue corner Yague and Mascardo Streets, Makati City,Metro Manila, Philippines Or fax nos. +63 2 8974793 to 94