PSEi returns to 6,100 mark on the strength of regional markets | Inquirer Business
Close  

PSEi returns to 6,100 mark on the strength of regional markets

/ 06:00 PM February 11, 2014

MANILA, Philippines — The local stock barometer climbed back to the 6,100-mark on Tuesday, tracking firmer regional markets ahead of the first testimony of the new US Federal Reserve chief Janet Yellen.

Rising for the fifth straight session, the Philippine Stock Exchange index added 63.78 points or 1.06 percent to close at 6,106.03.

ADVERTISEMENT

All counters advanced, led by the holding firm, services and property counters, which all gained by over 1 percent.

Value turnover for the day amounted to P6.83 billion. There were 100 advancers that overwhelmed 48 decliners while 50 stocks were unchanged.

FEATURED STORIES

COL Financial head of research April Lee-Tan said that for the past five days, the local market had been tracking the recovery in US and regional markets. She said this upswing was thus more driven by overseas sentiment rather than any aggressive positioning for fourth quarter earnings results.

Investors snapped up shares of SMPH (+3.78 percent) as well as BDO, AC, Megaworld, URC, Metrobank and ICTSI. BPI, SMIC, AP, PLDT, ALI, AGI, JG, DMCI, Semirara and RLC also added to the day’s gains.

Across the region, stock markets were mostly higher ahead of Yellen’s first testimony as the new US Fed chair. She was set to speak before a US House of Representatives committee on the state of the economy and the course of monetary policy.

The business headlines in under one minute


Read Next
Don't miss out on the latest news and information.

Subscribe to INQUIRER PLUS to get access to The Philippine Daily Inquirer & other 70+ titles, share up to 5 gadgets, listen to the news, download as early as 4am & share articles on social media. Call 896 6000.

TAGS: Business, Markets and Exchanges, Philippine Stock Exchange, Stock Activity, Stock Market
For feedback, complaints, or inquiries, contact us.



© Copyright 1997-2022 INQUIRER.net | All Rights Reserved

We use cookies to ensure you get the best experience on our website. By continuing, you are agreeing to our use of cookies. To find out more, please click this link.