PSEi hits 4-month high
The local stock barometer firmed up above the 7,000 and settled at a four-month high yesterday as fresh stimulus from the eurozone perked up regional markets.
The Philippine Stock Exchange index (PSEi) gained 50.56 points or 0.72 percent to close at 7,098.64.
This marked the highest level reached by the main index since Nov. 6, 2015, when it closed at 7,118.20.
Elsewhere in the region, stock markets jumped as the European Central Bank announced fresh interest rate cuts, more bond-buying operations and liquidity support to lenders.
At the local market, all counters were up but the biggest gainers were the financial and mining/oil counters, which both surged by more than 2 percent. The services counter was up 1.53 percent.
Value turnover at the local market was relatively high at P9.18 billion. There were 113 advancers that edged out 61 decliners while 42 stocks were unchanged.
ICTSI, Metrobank and FGEN all gained more than 3 percent while BDO, GTCAP and MPI all rose by over 2 percent.
ALI, JG Summit and Megaworld all advanced by more than 1 percent. AC, PLDT, URC and AP also firmed up.
Outside of the PSEi, gaming firm Melco Crown surged 9.8 percent. Puregold rose 2.78 percent while RRHI gained 1.45 percent.
Sy family-led SM Prime and SMIC bucked the day’s upswing, both declining by more than 1 percent. Doris Dumlao-Abadilla
