PSEi firms up

AP file Photo/Aaron Favila

The local stock barometer firmed up Monday, tracking regional markets that were mostly buoyant as European banking woes eased.

The Philippine Stock Exchange index (PSEi) added 48 points or 0.63 percent to close at 7,677.73. Stock markets elsewhere in the region were mostly higher on reports that Deutsche Bankóthe source of global banking jitters last Fridayówas negotiating a much smaller fine with the US Department of Justice.

At the local market, all counters advanced but the industrial and mining/oil counters gained the most, both having risen by more than 1 percent.

Value turnover, however, was thin at P4.88 billion. There was a modest net foreign buying of P49 million.

There were 93 advancers that edged out 88 decliners while 50 stocks were unchanged.

The PSEi was led higher by DMCI, which rose by 4.48 percent, while RLC gained 3.06 percent.

URC and Ayala Corp. both rose by more than 2 percent while Megaworld, Metrobank and ICTSI all gained over 1 percent.

BDO, SM Prime, SM Investments Corp., Globe Telecom and Semirara likewise firmed up.

Outside of the PSEi, notable gainers included Global Ferronickel (+8 percent), Manila Water (+4.1 percent) and Nickel Asia (+4.86 percent). Doris Dumlao-Abadilla