PSE tracks Wall Street gain

AP FILE PHOTO

THE LOCAL stock barometer returned to positive territory on Thursday, tracking an overnight rebound in Wall Street.

Snapping out of a two-day decline, the Philippine Stock Exchange index firmed up by 26.3 points or 0.37 percent to close at 7,098.76.

The gains were led by the services sub-index which advanced by 1.13 percent while the financial, industrial, holding firms and mining/oil counters firmed up by a more modest pace.

The only counter that bucked the day’s upswing was the property sub-index, which fell by 0.77 percent.
Value turnover for the day was thin at P6.4 billion. There were 110 advancers, nearly twice the 59 decliners while 40 stocks were unchanged.

ICTSI led the day’s rebound, rising by 3.37 percent while URC and Semirara both advanced by over 2 percent.

PLDT gained 1.16 percent while GTCAP, SMIC, Meralco, Globe, AGI, Metrobank, JG Summit, BPI, MPI and RLC also contributed modest gains.

Outside of the PSEi, the notable gainers were DoubleDragon (+6.68 percent) and Security Bank (+0.72 percent), which were among the most actively traded stocks for the day.

Bucking the day’s upswing were SMPH, BDO and ALI which all faltered by over 1 percent.

Elsewhere in the region, stock markets traded mostly higher as most investors likewise took their cue from Wall Street.

Meanwhile, China’s financial markets are closed due to a holiday that commemorated victory over Japan during World War II.

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