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PH stocks up for 2nd straight day; index back to 7,900

/ 05:00 AM May 01, 2019

The local stock barometer climbed to the 7,900 level on Tuesday, aided by month-end window dressing activities.

The main-share Philippine Stock Exchange index (PSEi) added 55.7 points or 0.71 percent to close at 7,952.72, gaining for the second straight session ahead of a trading break on Wednesday, Labor Day. 

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Elsewhere in the region, stock markets traded with mixed sentiment.

On Tuesday, the industrial and property counters both gained over 1 percent, while the holding firm and services firms also firmed up.

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On the other hand, the financial and mining/oil counters were in the doldrums.

Value turnover for the day amounted to P6.98 billion.

There were 99 advancers that edged out 89 decliners, while 49 stocks were unchanged.

URC led the PSEi higher with a gain of 4.67 percent.

SM Prime also rose by 2.35 percent while SM Investments, BPI and PLDT all added over 1 percent.

Ayala Land, ICTSI, Jollibee, BDO and JG Summit also firmed up.

Outside the PSEi, one notable gainer was Holcim Philippines on speculation that a new investor may take over soon.  Competitor Cemex also rose by 4.83 percent.

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On the other hand, Metrobank, Puregold and Megaworld all slipped by over 2 percent, while Bloomberry fell by 1.24 percent.

Eagle Cement, one of the bidders for Holcim’s business in the Philippines, fell by 0.75 percent.  It was among the most actively traded companies for the day.

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