Quantcast
Latest Stories

Global markets prop up local share prices



Stocks firmed up for the third straight session Friday on the back of window-dressing activities and more stable global markets.

The Philippine Stock Exchange index gained by 137.28 points, or 2.17 percent, to close at 6,465.28. Despite the dip seen earlier in the week, the gains of the last three days allowed the index to rise by 283.11 points, or 4.5 percent—its first weekly gain in five weeks.

All counters rose but the biggest gain was posted by the mining/oil counter (+3.4 percent), which was led by Semirara (+13.82 percent).

Other stocks that led the index higher were Globe (+8.05 percent), URC (+5.93 percent), SMIC (+5.42 percent), Jollibee (+4.23 percent), AC (+3.57 percent), AEV (+3.51 percent, ALI (+3.4 percent), ICTSI (+3.33 percent) and BPI (+2.78 percent).

Dealers said the market tracked upbeat regional markets while month-end and quarter-end window-dressing activities also boosted share prices.

There were 96 gainers against 71 decliners at the local market. Value turnover amounted to P15.3 billion.  Doris C. Dumlao


Follow Us


Follow us on Facebook Follow on Twitter Follow on Twitter


Recent Stories:

Complete stories on our Digital Edition newsstand for tablets, netbooks and mobile phones; 14-issue free trial. About to step out? Get breaking alerts on your mobile.phone. Text ON INQ BREAKING to 4467, for Globe, Smart and Sun subscribers in the Philippines.

Tags: Business , stocks

  • Godofredo Batungbacal

    When mere rumors or talks of the US Fed tapering off QE could cause so much turmoil in the Philippine Stock Market this last few days, that belies the government’s assurances that the economic fundamentals of the country are sound.

    Despite the impressive GDP growth of 2012, the benefits have not really trickled down to where they are needed most. That in itself is an indication that the economic fundamentals are not sound. Should this continue, there will be social unrest. No different from what happened in Indonesia and South Korea in 1998 and 1999 respectively. As far as I can remember, Fitch, S&P and Moody’s failed to factor in the risks of social upheaval in their analysis in those days.



Copyright © 2014, .
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
Advertisement
Advertisement

News

  • Obama due in Seoul as North Korea nuclear test fears grow
  • Hold departure order out vs Corona, Singson
  • Malaysia to release MH370 report–PM
  • Man found dead in Quezon City, alleged victim of summary execution–report
  • Aquino to lead Air Force turnover rites
  • Sports

  • Michael Phelps loses to Lochte in comeback meet
  • Sharapova advances to Stuttgart quarterfinals
  • Galedo caps ride of redemption
  • Beermen, Express dispute second semis slot today
  • Lady Agilas upset Lady Bulldogs in four sets
  • Lifestyle

  • ‘Recovered’ Banksy works on display ahead of sale
  • Marinduque: Visiting the ‘palm of the ocean’
  • First at Vatican in 60 years
  • How Jing Monis Salon gave Krissy the pixie
  • Want to be a supermodel? Work on your inner beauty, says Joey Espino
  • Entertainment

  • Paul McCartney to play at Candlestick concert
  • Kristoffer Martin: from thug to gay teen
  • Has Ai Ai fallen deeply with ‘sireno?’
  • California court won’t review Jackson doctor case
  • Cris Villonco on play adapted from different medium
  • Business

  • PAL hailed for ban on shark fin cargo
  • BSP to change tint of P100 bill
  • Nielsen sees car buying boom in the Philippines
  • How author of best-seller exposed ‘one percent’ economic elite
  • Bangko Sentral readies new bank lending rules
  • Technology

  • Cloud strength helps Microsoft earnings top Street
  • Vatican announces hashtag for April 27 canonizations
  • Enrile in Masters of the Universe, Lord of the Rings?
  • Top Traits of Digital Marketers
  • No truth to viral no-visa ‘chronicles’
  • Opinion

  • Editorial Cartoon, April 25, 2014
  • No deal, Janet
  • Like making Al Capone a witness vs his gang
  • MERS-CoV and mothers
  • A graduation story
  • Global Nation

  • China welcomes PH apology
  • Only 4 Etihad passengers not accounted for
  • Abandoned in Malta,15 PH seamen return
  • Senator hopes PH will also get same vow
  • HK victims to get P115M; traders raised money
  • Marketplace