Strong regionals boost stocks

THE LOCAL stock barometer firmed up to the 7,200 level on Tuesday, riding on mostly upbeat regional markets while digesting the stream of third quarter local earnings report.

The main-share Philippine Stock Exchange index added 11.88 points or 0.17 percent to close at 7,210.73 as most regional markets took their cue from an upbeat trading in Wall Street.

The day’s gains were led by the mining/oil counter which advanced by 1.44 percent while the industrial, holding firm and property counters modestly rose.

The financial and services counters declined.

Value turnover for the day amounted to P5.94 billion. There were 98 advancers that edged out 83 decliners while 37 stocks were unchanged.

Bloomberry led the day’s gainers, rising by 7.02 percent, after reporting that third quarter losses had narrowed which stock pundits saw as a signal of a forthcoming return to profitability.

Emperador gained 4.42 percent while Meralco rose by 2.49 percent.

ALI, MPI and PLDT all rose by over 1 percent.

Index heavyweight PLDT reported on Tuesday that it was keeping 2015 core profit goal of P35 billion, 6.4 percent lower year-on-year. Doris Dumlao-Abadilla