PH stocks renew push to hit 8,000 level

Philippine stocks inched closer to the 8,000 level, posting small gains on relatively light volume despite the lack of strong leads to guide investors.

The benchmark Philippine Stock Exchange Index (PSEi) rose 0.23 percent, or 18.42 points, to 7,952.92 by the closing bell.

The broader all-shares index was up 0.06 percent to 4,755.68.

Only the service sub-sector declined with a 1.36-percent drop. Gaining subindices were led by property, up 0.83 percent, and mining and oil, up 0.53 percent.

A total of 3.9 billion shares valued at P6.5 billion changed hands on Tuesday.

There were 104 gainers against 94 decliners, while 57 companies closed unchanged.

Metro Pacific Investments Corp. led the roster of most actively traded stocks.

Metro Pacific, an infrastructure giant, gained 3.58 percent to P6.95 per share.

It was followed by Ayala Land Inc., up 0.72 percent to P41.75; PLDT Inc., down 3.48 percent to P1,665; BDO Unibank Inc., down 0.57 percent to P122.10, and GT Capital Holdings Inc., up 2.73 percent to P1,240 per share.

Other actively traded companies were SM Prime Holdings Inc., up 1.65 percent to P33.95, SSI Group Inc., up 3 percent to P4.80, and Metropolitan Bank &Trust, up 1.14 percent to P92.95 per share.