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PH shares close marginally higher in volatile trading

business / Headlines
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PH shares close marginally higher in volatile trading

The benchmark Philippine Stock Exchange index (PSEi) swung between gains and losses Friday, following volatility in markets overseas.

Stocks across the region ended lower, mainly as investors continued to worry that the European Central Bank will take steps to cut liquidity that has been a boon to financial markets.

The PSEi ended Friday on a positive note, but just barely. It closed at 7,889.33, up 0.01 percent of 1.02 points.

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The broader all-shares index was lower by 0.04 percent, or 1.73 points, to 4,735.12 on Friday.

Subsectors also closed mixed.

Gainers were led by financials, up 0.67 percent, services, up 0.27 percent and property, up 0.11 percent.

Leading the decliners were holding firms, at 0.34 percent, followed by industrial and mining and oil, which sank 0.06 percent and 0.14 percent, respectively.

A total of 2 billion shares valued at P6.9 billion changed hands on Friday.

Gainers and losers were almost evenly matched, at 102 to 104, respectively. There were 46 companies that closed unchanged.

Leading the way in terms of activity was Metropolitan Bank and Trust, which gained 3.63 percent to P92.75 per share.

It was followed by GT Capital Holdings, down 0.41 percent to P1,200, Pilipinas Shell Petroleum, down 0.22 percent to P69.20, Ayala Land Inc., up 0.13 percent to P40, and Metro Pacific Investments Corp., up 0.15 percent to P6.70 per share.

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