Stocks breach 8,000 on earnings, window dressing

Published October 30, 2019, 12:00 AM

by manilabulletin_admin

By James A. Loyola
Local share prices on Wednesday rose slightly above the 8,000 resistance level on buoyant earnings and some window dressing.

The main date index gained 28.87 points or0.36 percent to close at 8,020.06 although the Industrial, Services and Mining & Oil counters dipped.

Trading volume also dipped to 1.13 billion shares worth P5.99 billion as advancers beat losers 90 to 80 with 54 unchanged.

“Philippine shares drifted for most of the session but closed higher on window dressing towards the end as trade headlines and a spate of corporate earnings weighed on shares ahead of tonight’s expected rate cut by the Federal Reserve kept investors at bay,” said Regina Capital Development Corp. Managing Director Luis Limlingan.

 
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