PSEi back at 6,700 level

AFP FILE PHOTO

MANILA, Philippines — The local stock index climbed back to the 6,700 level on Wednesday, aided by strong regional markets and upbeat prospects for the gaming sector.

The main-share Philippine Stock Exchange index racked up 71.46 points or 1.08 percent to close at 6,707.91.

All counters were up, led by the financial, services, mining/oil and property counters which all gained over 1 percent.

Turnover for the day amounted to P10.3 billion.

There were 122 advancers against 51 decliners while 44 stocks were unchanged.

“It’s been a gaming week,” said Jose Mari Lacson, head of research at Campos Lanuza & Co. “Earnings from Bloomberry was a positive surprise.”

Lacson said this had in turn likewise boosted shares of Travellers (RWM) and AGI.

Both AGI and Bloomberry are part of the main-share PSEi. AGI was up by 1.64 percent and Travellers by 2.54 percent while Bloomberry has dipped by 0.33 percent on profit-taking.

Bloomberry earlier reported a net income of P1.46 billion for the first quarter, reversing the net loss of P1.06 billion in the previous year. Gross revenues surged by 1,016 percent year-on-year to P7.38 billion in the first three months.

Megaworld rose by 4.49 percent while PLDT, SM Prime, Metrobank and Meralco all gained by over 2 percent. URC, AC, ALI, ICTSI, SMIC and LTG also contributed to the day’s gains.

Outside of the main index, a notable gainer was Security Bank (+6.1 percent).

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