Stocks close higher

Stocks rebounded Friday after six consecutive days of decline marked by a disappointing report on first-quarter gross domestic product (GDP).

The benchmark Philippine Stock Exchange index (PSEi) rose 1 percent, or 75.43 points, to 7,580.46 while the broader all-shares index was also up 0.83 percent to 4,360.81.

All subsectors, save for financials, which fell 0.24 percent, ended higher. Gainers were led by property, up 2.67 percent, and industrial, up 1.29 percent.

A total of 1.03 billion shares changed hands for P7.58 billion. Data from the PSE showed that a total of 107 companies gained while 61 issues declined and another 40 closed unchanged.

GT Capital was the most traded stock yesterday as it gained 0.07 percent to P1,386 a share. This was followed by Universal Robina Corp., up 2.25 percent to P191.20; BDO Unibank Inc., up 2.83 percent to P109; Robinsons Retail Holdings, up 1.28 percent P74.95; and Ayala Land Inc., up 3.23 percent to P39.95 a share. Miguel R. Camus