Quantcast
Latest Stories

Stocks set new record high



SHARE prices rose to a record high for the 28th time this year Friday as blue chips rallied on the back of good earnings reports and improving consumer confidence.

The main Philippine Stock Exchange index (PSEi) ended the week with a gain of 38.97 points or 0.71 percent to close at 5,552.34 points.

“Share prices are trading at elevated earnings multiples as well as technically near the top,” brokerage firm Accord Capital said in its daily note to clients. The firm warned that a more substantial correction might be needed to strengthen the market’s base before another push past the top as the year comes to a close.

“Given the traditionally bullish yearend trading sentiment, there is a high probability that [5,600] will be breached,” the note said. “We may require a more decent retreat off the highs sufficient to open the

doors for a final push and leave investors with a more reasonable potential upside that will be commensurate to the level of risks.”

The broader all-shares index rose 0.51 percent, while most sectoral counters ended with gains, led by financials (1.31 percent). However, the mining and oil and the service counters were down 0.48 percent and 0.02 percent, respectively. Paolo G. Montecillo


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

  • Count du Fount de Cakes

    I’m happy with my portfolio… all green since august 2012… hehehehe. not bad for my first year in the stock market. :)

    anyway… the CRABS may come soon. 

  • help_our_country

    To all investors like me…happy investing! My porfolio have been gaining due to this news.

  • xrisp

    Sa stock market na lang sana na invest yung mga pera na nailagay sa 2 malaking scam sa Mindanao.

  • Diablo_III

    At least umakyat kesa bumaba at nag flat… Sana akyat ito ng akyat pa…

  • gwenbot50

    Record high nga pero mahirap magtiming kasi akyat baba, hinde tulad noong una kapag umakyat matagal bago bumaba.

  • Diablo_III

    Bakit palagi nalang record high… Tsk tsk…galing.



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

  • Prosecutor says mate in SKorean ferry steering waters for 1st time
  • Malaysia asks world to pray for missing plane clue
  • 13th body pulled from snow in Everest avalanche
  • Pope sends condolences for S.Korea ferry victims
  • Drone kills 15 ‘Qaeda,’ 3 civilians in Yemen – security
  • Sports

  • MLB pitcher donates $100,000 for Sewol ferry victims
  • Hamilton takes pole at Chinese Grand Prix
  • Duke’s Rodney Hood joining Jabari Parker in NBA draft
  • Phelps entered in 3 events at comeback meet
  • Boston prepares for huge wave of marathon visitors
  • Lifestyle

  • Levine designs womenswear with help from fiancee
  • Gabriel Garcia Marquez, Nobel laureate, dies at 87
  • Ford Mustang turns 50 atop Empire State Building
  • Pro visual artists, lensmen to judge Pagcor’s photo contest
  • ‘Labahita a la bacalao’
  • Entertainment

  • Myx TV premieres Asian American ‘docu-series’
  • A nutty finale for ‘Scandal,’ TV’s craziest show
  • EXO postpones release of mini album ‘Overdose’
  • ‘X-men’ filmmaker slams ‘fabricated’ sex attack claims
  • Singer Chris Brown’s bodyguard on trial in DC
  • Business

  • Fiat-Chrysler to produce iconic Jeep in China from 2015
  • US commerce secretary spells out economic facet of ‘pivot to Asia’
  • Italy sells luxury state cars on eBay
  • Asian shares mostly up in quiet trade
  • Dollar up in Asia on US jobs data, Ukraine deal
  • Technology

  • Nasa’s moon-orbiting robot crashes down
  • Netizens pay respects to Gabriel Garcia Marquez
  • Nokia recalls 30,000 chargers for Lumia 2520 tablet
  • Facebook rolls out ‘nearby friends’ feature
  • Netizens seethe over Aquino’s ‘sacrifice’ message
  • Opinion

  • Editorial cartoon, April 17, 2014
  • A humbler Church
  • Deepest darkness
  • ‘Agnihotra’ for Earth’s health
  • It’s the Holy Week, time to think of others
  • Global Nation

  • 5 Filipinos with MERS in UAE reported in stable condition
  • PH boosts MERS monitoring after UAE nurse scare
  • Canadians back PH plea to take back waste
  • We treasure our Sierra Madre
  • OFW from UAE tests negative for MERS-Cov–health chief
  • Marketplace