PSEi recovers slightly

After a three-day decline, the local stock barometer firmed up Monday but settled a tad below the 6,400 mark.

The main-share Philippine Stock Exchange index (PSEi) recovered 8.75 points or 0.14 percent to close at 6,399.99. Across the region, risk-taking was tempered by escalating tension in Ukraine.

The local stock market encountered rough trade in early session but recovered later in the day. The positive close was led by the industrial and holding firm counters, which made up for the slack in the services, mining/oil and property counters.

Despite the PSEi’s modest gain, market breadth was negative, with 73 advancers outnumbered by 92 decliners. Doris C. Dumlao