Wednesday, June 20, 2018
  • share this

PSEi rallies past 6,500

/ 11:11 PM August 13, 2013

Local stocks rallied Tuesday, allowing the main index to breach 6,500, as investors took heart from unfolding SM property consolidation and the upbeat trading across regional markets.

Rising for the second straight session, the main-share Philippine Stock Exchange index gained 110.81 points or 1.72 percent to close at 6,554.62. The day’s catalyst was the SM group after the completion of the first step in its consolidation.

Joseph Roxas, president of Eagle Equities, said Monday’s block sale had given a “positive psyche” to the market.


Shares of SM units SM Prime, SM Development Corp. and Highlands Prime valued at a total of P64 billion were crossed on the local exchange on Monday, resulting in the consolidation of ownership of SMDC and HP in SM Land, which will later be merged with SM Prime.  Doris C. Dumlao

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, stocks
For feedback, complaints, or inquiries, contact us.

Police nab 402 suspected criminals in Quezon

June 20, 2018 11:38 AM


2 drug pushers busted in Quezon hotel

June 20, 2018 11:30 AM


Anne Curtis thriller to open locally on Aug. 1

June 20, 2018 11:22 AM

© Copyright 1997-2018 | All Rights Reserved

We use cookies to ensure you get the best experience on our website. By continuing, you are agreeing to our use of cookies. To find out more, please click this link.