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Stocks up on positive earnings reports

Business | The Stock Market

Stocks up on positive earnings reports

By James A. Loyola

The Philippine Stock Exchange Index (PSEi) ended in the green in volatile trading as investors digested fresh earnings reports while anticipating the release of more US and Philippine economic data.

The main index rose by 29.01 points or 0.40 percent to close at 7,343.24 with all sectoral indices rising, led by Miners and Banks. Volume was still thin at 873 million shares worth P4.13 billion as losers outnumbered gainers 99 to 90 with 55 unchanged.

“Philippine shares made another recover after falling in the red intraday as more earnings continue to trickle in, while investors get ready for another trading week ahead,” said Regina Capital Development Corporation Managing Director Luis Limlingan.

This week’s US economic calendar features key reports on home prices, consumer confidence, employment, GDP, and inflation.

Locally, a quiet week is expected, with traders focusing on the September producer price index release on Oct. 30.

Related Tags

Philippine Stock Exchange index (PSEi) Regina Capital Development Corporation Luis Limlingan

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