PSEi up slightly, stays at 6,700 level

The local stock barometer was flat on Wednesday but stayed above 6,700 at the start of the fourth-quarter corporate earnings reporting season.

The Philippine Stock Exchange index (PSEi) added 12.87 points or 0.19 percent to close at 6,756.82.

Across the region, stock markets traded with mixed sentiment after two sessions of solid gains as investors doubted whether a Saudi Arabia-Russia deal to curb oil output would significantly address the supply glut.

The gains were led by the financial, industrial, holding firm, services and mining/oil counters. Only the property counter was slightly lower.

Value turnover for the day amounted to P6.81 billion. There were 104 advancers, 69 decliners while 37 stocks were unchanged.

The day’s gains were led by Jollibee and PLDT, which both rose more than 2 percent. Metrobank and EDC gained more than 1 percent. BDO, MPI, JG Summit, AC, AP and AGI also firmed up.

On the other hand, GTCAP and URC fell more than 1 percent while ALI, SM Prime and Globe also slipped.

Outside of the PSEi, Security Bank lost 0.63 percent.