Philippine market up by 12.74 points

Local stocks firmed up on Tuesday as regional markets hoped for a resolution of the US fiscal cliff before the yearend deadline.

The main-share Philippine Stock Exchange gained by 12.74 points, or 0.23 percent, to 5,636.59 as investors sifted through stocks that fell in the last few days.

The industrial, holding firms, services and mining/oil counters supported the day’s upswing while the cyclical financial and property counters continued to be in the red.

Value turnover amounted to P11.55 billion. Despite the overall index gain, the 61 advancers were outnumbered by the 115 decliners while 39 stocks were unchanged.

The index was led higher by JFC (+3.37 percent), URC (+2.08 percent), SMC (+1.78 percent), SMIC (+1.59 percent), PLDT (+1.27 percent), ALI (+1.21 percent) and AC (+1.01 percent).—Doris C. Dumlao