PH stock prices maintain uptrend

MANILA, Philippines – Local stock prices surged for a second straight session on Friday as investors gobbled up shares of mining, holding firms and service companies.

The main-share Philippine Stock Exchange index added 43.95 points or 1.04 percent to finish at 4,274.51.

The mining/oil counter outperformed the others, rising by 4.82 percent on the back of gains made by Philex as well as Lepanto “A” (available only to local investors) and “B” (open to both local and foreign).

Aboitiz Power, PLDT, URC, EDC, DMCI, Megaworld and SM Investments also led the index higher for the day. Non-index stocks Leisure & Resorts and Philodrill also gained in heavy trade.

Only the financial counter traded in the red as banking stocks like Metrobank succumbed to profit-taking.

Investors also pocketed gains from AGI, Ayala Land and Cebu Air.

Turnover amounted to P4.77 billion.

There were 71 advancers, beating 48 decliners, while 49 stocks were unchanged.