Market closes slightly up

Philippine stocks yesterday stayed above the 7,800 level, despite paring some gains early in the session and the lack of major economic news.

The benchmark Philippine Stock Exchange Index ended at 7,812.14, up 0.07 percent or 5.57 points. The broader all-shares index was also up 0.16 percent to 4,662.16.

Sub-sectors were broadly higher, as only the financial counter slid by 30 percent.
Gainers were led by mining and oil, up 0.96 percent, followed by holding firms, up 0.28 percent; services, up 0.24 percent, and property, up 0.22 percent.

A total of 1.17 billion shares, valued at P7.4 billion, changed hands yesterday.

Advancers almost equaled decliners at 93-97 while 49 companies closed unchanged.

Data from the Philippine Stock Exchange showed Andrew Tan’s Megaworld Corp. as the most actively traded yesterday. Megaworld gained 2.3 percent to P4.45 per share.

It was followed by another Tan-held company, Alliance Global Group Inc., which rose 1.74 percent to P15.24.
SM Prime Holdings Inc. was unchanged at P32.80 per share while Ayala Land Inc. closed flat at P38.10 per share. Ayala Corp. closed down 0.23 percent to P870 per share.