PSEI hovers as investors await more first-quarter results
MANILA, Philippines — Investors stayed on the sidelines on Thursday as they awaited first-quarter financial results, with the benchmark index ending flat.
By the closing bell, the Philippine Stock Exchange Index (PSEi) inched up by 0.03 percent, or 2.13 points, to 6,574.88.
The broader All Shares Index, meanwhile, gained by 0.13 percent, or 4.51 points, to 3,467.97.
A total of 750.02 million shares valued at P3.27 billion changed hands, while foreigners made net purchases of P130 million, stock exchange data showed.
Mikhail Plopenio, researcher at Philstocks Financial Inc., said investors were looking forward to more first-quarter earnings reports, “as initial reports from the banking space were positive.”
To recall, Sy family-led BDO Unibank Inc. booked P18.5 billion in earnings in the first three months of the year, up by 12 percent, as its lending portfolio grew.
Article continues after this advertisementREAD: BDO continues hot streak as income rises by 12%
Article continues after this advertisementAt the same time, Ayala-led Bank of the Philippine Islands posted a record-high income of P15.3 billion, up 25.8 percent, in the January to March period as revenues soared.
Luis Limlingan, head of sales at stock brokerage house Regina Capital Development Corp., said sentiment was supported by “so far, so good” earnings of US-listed companies.
READ: As earnings season rolls into its heart, hopes rise for broader gains
Ayala Land Inc. was the top-traded stock as it was unchanged at P28.45 per share.
It was followed by International Container Terminal Services Inc., down 0.12 percent to P329.60 each; SM Investments Corp., up 0.05 percent to P947.50; DigiPlus Interactive Corp., down 0.95 percent to P10.42; and BDO, up 1.04 percent to P145.60.
Cemex Holdings Philippines Inc. rallied by 15.85 percent to P1.90 as investors awaited news on rumors circulating that Consunji family-led DMCI Holdings was set to acquire the cement manufacturer.
GT Capital Holdings Inc. was down 2.91 percent to P600; BPI, down 0.24 percent to P123.70; JG Summit Holdings Inc., up 5.1 percent to P32.95; and Universal Robina Corp., up 0.11 percent to P93.40 per share.
Advancers edged out losers, 104 to 83, while 50 companies closed unchanged, stock exchange data also showed. —Meg J. Adonis
