Sunday, May 20, 2018
Close  
  • share this

PH stocks rise for 4th straight day in Holy Week bargain-hunt

/ 09:51 PM March 26, 2013

pse.com.ph photo

MANILA, Philippines—Local stocks gained ground for the fourth straight session on Tuesday, on the back of Holy Week bargain-hunting alongside some quarter-end window-dressing.

Defying mostly lackluster regional markets, the main-share Philippine Stock Exchange index rallied by 67.53 points or 1.02 percent to close at 6,665.12.

All counters were up but the biggest gainers were the holding firm and services counters, which both rose by 1.4 percent.

ADVERTISEMENT

Total value turnover for the day amounted to P9 billion. There were 88 advancers that outnumbered 59 decliners while 48 stocks were unchanged.

The day’s biggest index gainer was Alliance Global Inc. (+3.43 percent), which obtained consent from bondholders to revise the covenant governing a $500-million bond issue.

AGI was also the most actively traded stock for the day, followed by PLDT (+1.92 percent), which benefited from the issuance of a revised Securities and Exchange Commission draft on foreign ownership that makes its recent capital restructuring compliant with the 60-40 percent ownership rule favoring local investors.

Investors also snapped up shares of Manila Water Corp., Metro Pacific Investments, JG Summit, Robinsons Land, Jollibee, Universal Robina, SM and DMCI.

Other non-index stocks that gained in heavy trade were Boulevard Holdings (+4.58 percent) and LT Group (+1.91 percent). LTG is expected to announce a follow-on equity offering of as much as $800 million after Easter.

Don't miss out on the latest news and information.
View comments

Subscribe to INQUIRER PLUS to get access to The Philippine Daily Inquirer & other 70+ titles, share up to 5 gadgets, listen to the news, download as early as 4am & share articles on social media. Call 896 6000.

TAGS: Business, Markets and Exchanges, Philippine Stock Exchange, Stock Activity, Stock Market
For feedback, complaints, or inquiries, contact us.
newsinfo

SC: Judges must appear to be impartial

May 21, 2018 06:45 AM

newsinfo

Duterte threatens to kill ‘narcocops’ anew

May 21, 2018 06:42 AM

opinion

SSS fund in peril

May 21, 2018 05:38 AM

sports

Tough grind ahead

May 21, 2018 05:35 AM

opinion

Ed Angara: The Lee Kuan Yew we never had

May 21, 2018 05:34 AM



© Copyright 1997-2018 INQUIRER.net | All Rights Reserved