PH stocks continue recovery

By on August 5, 2015

Wikipedia Photo
Wikipedia Photo

MANILA — The local stock barometer rose for the fifth time on Tuesday as the second-quarter corporate earnings reporting season started.

The Philippine Stock Exchange index (PSEi) climbed 25.03 points, or 0.33 percent, to close at 7,598.29.

It was led by the financial, industrial, holding firm and property counters while the services and mining/oil counters slipped.

Meralco and Megaworld were among those who gained more than 2 percent.

Metrobank, MPI, SM prime, SMIC, AGI and ICTSI also contributed to the day’s gains as firms outside PSEi, also recorded notable gains. Cebu Air gained 2.5 percent in heavy volume.

Meanwhile, BPI, Ayala Land Inc.and JG Summit closed lower while PLDT and Ayala Corp. lost more than 1 percent.