PSEi gains by 0.23%

The local stock barometer slightly firmed up yesterday, bucking a regional downturn seen as post-Brexit caution returned.

The Philippine Stock Exchange index (PSEi) added 18.06 points or 0.23 percent to close at 7,771.52.

For the four-day trading week, the main index lost a total of 58.83 points or 0.7 percent.

The financial, holding firm, services and property counters supported the PSEi’s rise.

The mining/oil index tumbled by 1.7 percent on news that some local mining firms had been suspended amid heightened industry scrutiny by Environment Secretary Gina Lopez.

The industrial counter also fell by 1.7 percent.

Total value turnover for the day hit P11.3 billion.  There were 104 advancers, 86 decliners and 40 stocks were unchanged.

Investors picked up shares of Bloomberry, which rose by 3.04 percent, and Metrobank, which gained 2.13 percent.

SM Prime rose by 1.48 percent. ALI, SMIC, PLDT, URC, MPI and Globe also gained.

Outside of the PSEi, notable gainers included Now—which rose by 5.98 percent—while Cirtek gained 2.99 percent and Puregold, by 1.24 percent.  These stocks all traded in heavy volume.  Doris Dumlao-Abadilla