Shares close higher

Local share prices on Thursday closed marginally higher as late session buying reversed the profit-taking that took place earlier, keeping the main index afloat for the fifth straight day.

The Philippine Stock Exchange index gained 1.58 points, or 0.04 percent, to finish at 4,370.46 in mixed trading.

Modest gains by the industrial, holding firms and mining/oil counters made up for the slack in the financial, property and services counters.

Value turnover amounted to P3.94 billion, aided by selective buying by foreign investors.

There was P621 million in net foreign buying for the day.

Despite the overall index gain, there were 69 advancers against 83 decliners, while 51 stocks were unchanged.

The index stocks that helped the PSEi stay in positive territory were BDO, EDC, DMCI, SMIC, ICTSI, Ayala Corp., URC and Semirara.

Other stocks that gained on heavy trade are Security Bank, Lepanto A (open to local investors), Lepanto B (open to all investors).