Friday, December 9, 2016
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PH stock index climbs back on reports of improved US economic data

MANILA, Philippines—Local stocks regained ground on Wednesday after a two-day decline as improved US economic data boosted regional markets.

The main-share Philippine Stock Exchange index added 63.93 points or 0.94 percent to close at 6,850.26.

All counters firmed up while 111 advancers overwhelmed 51 decliners.

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Value turnover swelled to P49.047 billion as tycoon Lucio Tan-led conglomerate LTG Inc. raised $920 million from a landmark equity offering that was priced at the high end of the range at P20.50 per share.

The day’s biggest index gainers were Belle (+7.26 percent), Meralco (+4.64 percent), MPI (+3.19 percent), AGI (+2.26 percent) and BDO (+2.03 percent).

Metrobank, Bloomberry, Megaworld, AP and ICTSI also contributed to the day’s gains.

Outside of PSEi, LTG shares surged by 11.11 percent to a close at new high P23 after a landmark follow-on offering.

On the other hand, the day’s index laggers were RLC (-1.96 percent), FGEN (-0.63 percent), ALI (-0.33 percent) and Petron (-0.26 percent).

TAGS: Business, Markets and Exchanges, Philippine Stock Exchange, Stock Activity, Stock Market
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