PH shares return to 7,800

The local stock barometer returned to the 7,800 level yesterday, tracking a global upswing in equities as investors bet on improving global economic output.

The main-share Philippine Stock Exchange index (PSEi) gained 114.17 points or 1.49 percent to close at 7,803.31.

Domestic investors made up for the slack in foreign appetite. There was net foreign selling worth P486.82 million for the day.

The PSEi was led higher by the financial counter, which rose by 2.52 percent, while the holding firm counter gained 1.65 percent.

The mining/oil and property counters also firmed up. Only the services counter ended lower.

Value turnover hit P6.93 billion. There were 119 advancers that edged out 77 decliners while 45 stocks were unchanged.

BDO and DMCI led the index higher, both gaining over 4 percent.

Metrobank also racked up 3.12 percent and was the day’s most actively traded stock. URC likewise added 3.5 percent.

Ayala Land, SM Investments, GT Capital and Semirara all rose by over 2 percent.

BPI and Ayala Corp. both rose by over 1 percent while LTG, Metro Pacific, Meralco, Megaworld and Jollibee all firmed up.

On the other hand, PLDT dropped by 1.75 percent.