PSEi ends losing streak

The benchmark Philippine Stock Exchange index (PSEi) bounced back Thursday following declines in recent days that saw it fall below the 7,700 level.

The PSEi closed Thursday up 0.63 percent, or 47.97 points, to 7,667.07, while the broader All-Shares index was up 0.51 percent, or 23.18 points, to 4,565.53. The PSEi was still down 1.8 percent since the start of the week.

Sub-sectors were mostly positive, save for mining and oil, which sank 0.13 percent. Gainers were led by services, up 1.1 percent; financials, up 0.85 percent, and industrial companies, up 0.54 percent.

The gains came despite heavy selling by overseas investors. Net foreign selling amounted to P2.16 billion Thursday.

A total of 1.35 billion shares valued at P8.99 billion changed hands. There were 94 gainers versus 85 decliners while 50 companies closed unchanged.

Security Bank Corp. was the most actively traded as it gained 2.31 percent to P230.40 a share.

This was followed by Ayala Land Inc., up 0.65 percent to P38.60; Ayala Corp., up 0.59 percent to P855; SM Prime Holdings Inc., up 0.37 percent to P27.30, and Bank of the Philippine Islands, down 0.85 percent to P105 a share. Miguel R. Camus