PSEi Exceeds 8,000-Point Level

The Philippine Stock Exchange index (PSEi) surpassed the 8,000-point level on Friday, July 15 to post its highest close for the year at 8,030.06, up by 73.92 points or 0.9 percent.

“While Asian markets, including ourselves, benefitted from positive news abroad, moving past the 8,000 level shows that investor confidence in our market remains high, and provides some early momentum as companies prepare to disclose their mid-year earnings results in the coming weeks,” PSE President and Chief Executive Officer Hans B. Sicat said.

Year-to-date, the index is up by 15.5 percent.

On Friday, All Shares closed at 4,841.30, p by 29.97 points or 0.6 percent. All indeces were in the green, led by Services, which gained 1.73% or 28.57 points to close at 1,681.75.

Among the blue chips, Philippine Long Distance Telephone Co (PSE:TEL) was the top gainer, up 3.45 percent to 2,160 a share.

Alliance Global Group (PSE:AGI) was the second top gainer, adding 1.88 percent to its value to end Friday’s trading at 16.3 a share.

First Gen Corporation (PSE:FGEN) led the decline among blue chips, lossing 1.41% to end the day at 24.5 a share.

For the entire week, Boulevard Holdings Inc (PSE:BHI) emerged as top price gainer, with a one week comparative price change of 70.69 percent. – BusinessNewsAsia.com

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