PSEi retests 7,500
The local stock barometer retested the 7,500 mark again Friday, tracking regional markets, which were upbeat ahead of the release of US jobs data.
The Philippine Stock Exchange index (PSEi) gained 49.63 points or 0.66 percent to close at 7,514.22. For the week, the main index gained 140.26 points or 1.9 percent.
The day’s gains were led by holding firms, which rose 1.03 percent, while the financial, industrial or services counters also contributed gains. On the other hand, the mining/oil and property counters declined.
Value turnover for the day amounted to P6.22 billion. There were 100 advancers, 72 decliners and 52 unchanged stocks.
The PSEi was led higher by tycoon Lucio Tan-led conglomerate LT Group, which surged by 3.61 percent. PLDT, Universal Robina Corp., SM Investments Corp., BDO, Aboitiz Equity Ventures and Alliance Global Group Inc. all gained more than 1 percent. SM Prime, JG Summit, BPI, Ayala Corp. and GT Capital also contributed gains.
On the other hand, Globe fell by 2.08 percent while Ayala Land Inc. tumbled by 1.08 percent. Metro Pacific Investments Corp. also slipped. Doris Dumlao-Abadilla
