Index marks historic high

THE PHILIPPINE Stock Exchange index (PSEi) yesterday breached the 7,600 mark for the first time in history on upbeat economic and corporate earnings prospects this 2015.

The main-share PSEi advanced by 43.9 points, or 0.6 percent, to close at a new record of 7,630.57. The index also set a new intraday peak of 7,631.85.

“Investor interest continues to be fueled by expectations of good 2014 economic data and revenue growth. We are also pleased to

note that fund managers remain upbeat about the market’s prospects,” said PSE president Hans Sicat.

Elsewhere in the region, markets were mostly higher on rising optimism on Europe, which recently unveiled a massive monetary stimulus.

The day’s upswing was led by the financial and industrial counters. The services and mining/oil counters declined.

Value turnover amounted to P11.66 billion. Market breadth was positive, with 104 advancers outnumbering 91 decliners, while 38 stocks were unchanged.

The PSEi was led higher by AP (+5.14 percent), while Metrobank, FGEN and BDO all rose by over 3 percent. Meralco advanced by 2.96 percent.