PH Stocks Recover, Post Record Turnover

Manila—(PHStocks)—Philippine stocks withstood an early session downtrend to post a recovery at the last trading day of the week and the month as investors scoop up bargains. The benchmark Philippine Stock Exchange (PSE) index gained 0.99% or 68.6 points to close at 7,021.95 – climbing back to the 7,000-level after the bloodshed yesterday. Meanwhile, value turnover reached a whopping PhP85.25 billion on 6.287 billion shares traded.

Stocks may have also been lifted up by the country’s first quarter GDP growth of 7.8%, as well as a slight recovery in the U.S. equities markets.

The Financials, Industrial, Services and Property indices were also back in the green. The Mining and Oil sector, meanwhile, lost 0.53%, and the Holding Firms index shed a slight 0.44%.

One of the highlights of today’s market was the landmark deal between tycoon Henry Sy’s businesses, wherein SM Investments Corp. will consolidate all its property units into SM Prime.


Meanwhile, there were 66 gainers today and 89 losers, while 48 stocks remained flat. The top most active today were Metro Pacific Investments Corporation (MPIC, PSE: MPI), San Miguel Corporation (PSE: SMC), Megaworld Corporation (PSE: MEG), Cosco Capital Inc. (PSE: COSCO), Puregold Price Club Inc. (PSE: PGOLD).

The top gainers were:

The biggest losers were:

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