The local stock barometer bounced as bargain-hunters sifted through the rubble while a buoyant regional market tempered jitters from the reimposition of strict lockdown protocols in Greater Metro Manila.
“Technicals for the PSEi point to a potential move to the 5,400 level, or the index’s low late-April, especially after runaway breakdown gap,” Papa Securities said.
All counters ended higher, led by the mining/oil sub-index which rose by 4.03 percent, while the financial, industrial, services and property counters all added over 1 percent. Total value turnover for the day amounted to P5.74 billion. Domestic hands kept the market afloat as there was P837.2 million net foreign selling for the day.Investors picked up shares of Gokongwei-led Universal Robina Corp. , which rose by 4.4 percent and became the most actively traded company in the market. Robust consumption of snackfoods, noodles, powered drinks and other food ingredients by locked-down households boosted URC’s second quarter net profit by 76 percent year-on-year to P3.
Megaworld rose by 3.1 percent while Ayala land, BDO, Puregold and Metro Pacific all rose by over 2 percent. PLDT and ICTSI both gained over 1 percent while SM Investments, Ayala Corp. and JG Summit all rose by less than 1 percent. —
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Stocks dumped on economic pessimism from MECQInvestors scrambled to sell out of the stock market on Monday as they braced for a bigger macroeconomic fallout from the reimposition of tighter lockdown protocols in Metro Manila and surrounding
Read more »
Amazon was selling shoes using the N-word until a UK lawmaker complainedAmazon has removed a post selling shoes described as 'n***er brown' after a British lawmaker discovered the listing while shopping online, prompting calls for tighter controls on Amazon's item descriptions.
Read more »
QC Mayor Belmonte condemns official’s ‘shoot-to-kill’ postQuezon City Mayor Joy Belmonte has condemned a Facebook post written by one of her officials, who said that he would shoot to death those who violate modified enhanced community quarantine (MECQ) guidelines, but said that she understands the latter's frustration.
Read more »
DILG nabahala sa 'shoot to kill' post ng QC official vs quarantine violators
Read more »
Erik Matti blasts Liza Dino for 'misleading' post about PH films on Netflix
Read more »