Share prices inch up

The Philippine Stock Exchange index (PSEi) yesterday firmed up after a two-day decline as investors took heart from favorable US economic data.

The PSEi gained 7.23 points, or 0.1 percent, to close at 7,276.18, reversing the decline of the morning trade.

Across the region, trading was mixed as the impact of upbeat data on US jobs, factory and home sales was tempered by concerns on the Chinese economy.

All counters inched up except for property. Value turnover amounted to P9.26 billion, including block transactions on Metrobank, SM Prime, EDC, Bloomberry, LTG, JAS and PLC.

There were 91 advancers against 82 decliners, while 51 stocks were unchanged. Foreign investors were still in a net selling position amounting to P290 million.

The PSEi was led higher by BDO and AP, which both rose by over 1 percent. URC, SMIC, Metrobank and Jollibee also contributed to the dayís gains.

Non-PSEi stocks that posted gains included PLC (+5.85 percent) and TUGS (+12.35 percent).

On the other hand, SM Prime and JGS curbed the PSEi’s rise, both slipping by over 1 percent. PLDT, AC, EDC and ALI also eased. Doris C. Dumlao