PSE firms up above 8,000

The local stock barometer firmed up on Monday, tracking mostly upbeat regional markets, as Hurricane Irma waned while investors awaited the United Nations’ sanction on North Korea.

The main-share Philippine Stock Exchange index added 26.56 points or 0.33 percent to close at 8,049.31.

Across the region, stock markets were mostly firmer but investors remained cautious as the UN was set to vote on sanctions against North Korea in response to the latter’s nuclear test.

At the local market, the gains were led by the industrial, holding firm, services and property counters, while the financial and mining/oil firms slipped.

Value turnover for the day amounted to P6.1 billion. There were 110 advancers that edged out 87 decliners while 50 stocks were unchanged.

The PSEi was led higher by RLC, which rose by 2.36 percent, while FMCI, SMIC, AGI and Puregold all rose by over 1 percent.

BDO, Metrobank, Semirara, URC, GT Capital, Metro Pacific, SM Prime, ICTSI and Ayala Corp. also firmed up.

Outside the PSEi, notable gainers included Chelsea Logistics (+2.08 percent); Bloomberry (+2.06 percent) and PXP Energy (+4.95 percent).

On the other hand, BPI fell by 1.45 percent.

Amid lack of fresh catalysts, local stocks are seen to trade sideways this week.