Philippine stocks keep gaining on semester-end window dressing | Inquirer Business

Philippine stocks keep gaining on semester-end window dressing

MANILA, Philippines — Local stocks continued to gain ground on Tuesday, despite lingering global uncertainties, aided by quarter-end and semester-end window-dressing.

The main-share Philippine Stock Exchange index gained 26.64 points or 0.52 percent to close at 5,193.84, rising for the third straight session.

The day’s upswing was still led by index heavyweight PLDT, which rose by another 1.91 percent to close at P2,674 a share.

Article continues after this advertisement

Investors also picked up shares of index stocks DMCI (+1.91 percent), Ayala (+0.43 percent), Aboitiz Power (+0.45 percent), Philex (0.21 percent), AEV (+0.43 percent), Globe (+0.96 percent) and Cebu Air (+0.96 percent).

FEATURED STORIES

An outperformer for the day was Philex’ gas exploration arm Philex Petroleum, which surged 6 percent on news that President Benigno Aquino III would likely clear businessman Manuel V. Pangilinan’s exploration venture with China.

But the index gains were tempered by the decline of Metrobank, Ayala Land, Megaworld, BPI, First Gen and ICTSI. Bloomberry, Security Bank and First Holdings also ended in the red.

Article continues after this advertisement

Local stocks managed to defy a sluggish sentiment across the region.

Your subscription could not be saved. Please try again.
Your subscription has been successful.

Subscribe to our daily newsletter

By providing an email address. I agree to the Terms of Use and acknowledge that I have read the Privacy Policy.

TAGS: Business, Markets and Exchanges, Stock Activity, Stock Market

Your subscription could not be saved. Please try again.
Your subscription has been successful.

Subscribe to our newsletter!

By providing an email address. I agree to the Terms of Use and acknowledge that I have read the Privacy Policy.

© Copyright 1997-2024 INQUIRER.net | All Rights Reserved

This is an information message

We use cookies to enhance your experience. By continuing, you agree to our use of cookies. Learn more here.