AFP FILE PHOTO
MANILA, Philippines—Local stocks firmed up for the second straight session on Thursday, tracking a modest rebound across regional markets.
The main-share Philippine Stock Exchange index added 6.18 points or 0.1 percent to close at 5,914.59 on marginal gains eked out by the financial, industrial, holdingfirm and property counters.
The day’s gains were tempered by the decline in the services and mining/oil counters.
There were 77 advancers that beat 62 decliners in the market while 44 stocks were unchanged. Value turnover amounted to P5.14 billion.
The large cap stocks that gained in heavy volume were AP (+3.03 percent), LTG (+2.96 percent), Megaworld (+2.29 percent), BDO (+1.73 percent) and GTCAP (+1.52 percent).
SM Prime, Metrobank, AC and Globe also contributed to the day’s gains.
On the other hand, the laggards for the day were URC, PLDT, ALI, SMIC, ICTSI and Jollibee. Outside of the PSEi, one notable decliner was San Miguel Purefoods (-2.61 percent).
Stock markets were mostly higher across the region ahead of a policy meeting by the European Central Bank. Investment bank Credit Agricole CIB said there was “still a wait-and-see’s attitude at the ECB, but with a larger easing bias.”
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