PH Stocks Recover as US Stocks Rebound on Improved Economic Data

PHStocks 17/04/2013 0 Comments ABS-CBN, ABSP, ACE, Acesite, AGI, ALI, Alliance Global, ATN, ATN Holdings, ATNB, Ayala Land, BDO Leasing, BEL, Belle, BHI, BLFI, Boulevard Holdings, CAL, Calata, DFNN, E-Game, EG, EVER, Ever-Gotesco, FFI, Filipino Fund, GLOBALPORT, green, Greenergy, iPeople, IPO, LT Group, LTG, MED, Medco, MG, Millenium Global, PF, Philippine Long Distance Telephone Co., Philippine Stock Exchange, Philippine Stock Market, Philippine stock market news, Philippine stocks, PLDT, PORT, PSE, PSE Index, PSE news, PSEi, Pure Foods, San Miguel, SM, SM Investments, SMIC, TEL, VUL, Vulcan

Manila—(PHStocks)—Philippine stocks regained their losses Wednesday, 17 April, boosted by US stock markets recovering on positive housing reports. The benchmark Philippine Stock Exchange (PSE) index went up by 0.94% or 63.93 points to close today’s trading at 6,850.26.

All counters are back in the green, led by the Financials segment, which gained 1.36%. The Industrials sector, meanwhile, posted a 1.25% growth, while both the Holding Firms and Services indices ended the session 1.03% higher.

One of the key highlights of the day was tycoon Lucio Tan’s conglomerate LT Group Inc. (PSE: LTG), which raised $920 million from the sale of stocks in a landmark equity deal that commanded unprecedented global investor interest and hefty market premium. In fact, LT Group is the top most active stock for the day, followed by Philippine Long Distance Telephone Co. (PLDT, PSE: TEL), Ayala Land Inc. (PSE: ALI), SM Investments Corporation (SMIC, PSE: SM), and Alliance Global Group Inc. (PSE: AGI).

Trading was very heavy today, with value turnover reaching PhP49.05 billion – the biggest since PHStocks started tracking PSEi data. This may have been driven by LTG’s share offering. Volume traded, meanwhile, reached 5.29 billion. There were 111 gainers today against 51 decliners, while 44 stocks were flat.