PSEi continues climb

By: Doris C. Dumlao - 11 years ago

MANILA, Philippines—The local stock barometer climbed for the third straight session on Tuesday, now nearing the 6,200 mark, riding on firmer sentiment in Wall Street.

The Philippine Stock Exchange index added 26.15 points or 0.42 percent to close at 6,193.97.

Apart from the upswing in local stocks, dealers said local stocks were rising due to optimism over the fourth quarter 2014 corporate earnings reporting season.

At the local market, the PSEi’s gains were led by the property counter, which advanced by 1.24 percent.

The PSEi was led higher by ALI (+3.23 percent) while AC, Semirara and Jollibee all advanced by over 2 percent. Globe rose by over 1 percent while Metrobank, BDO, MPI, SMIC, EDC, RLC and JGS also contributed to the day’s gains.

On the other hand, there was profit-taking on URC (-1.41 percent) while PLDT, Megaworld and LTG also traded lower.