PSEi rises on news about further opening of businesses

The benchmark Philippine Stock Exchange index (PSEi) rose on Friday as investors anticipated the release of government guidelines that would further open up businesses to support economic recovery.

By the end of trading, the PSEi was up 0.92 percent, or 54.53 points, to 5,999.40 while the broader all-shares index was up 0.67 percent, or 23.99 points, to 3,586.27.

All subsectors ended positive on Friday, with property and holding firms leading the way with gains of 0.99 percent and 0.98 percent, respectively.

After trading closed yesterday, the Department of Trade and Industry issued guidelines allowing businesses to increase capacity in areas under general community quarantine.

The gains came despite relatively thin trading. Data from the PSE showed 1.47 billion shares valued at P4.91 billion changing hands on Friday. There were 93 gainers against 92 decliners while 57 companies closed unchanged.

Dito CME Holdings was the most actively traded on Friday as it gained 8.68 percent to P5.76 per share.

It was followed by Metro Pacific Investments Corp., up 4.23 percent to P3.70; PLDT Inc., up 1.79 percent to P1,364; Universal Robina Corp., up 1.85 percent to P137.50, and Ayala Land Inc., up 2.33 percent to P30.70 per share. —MIGUEL R. CAMUS