PSE main index advances, lifted by select stocks

Philippine share prices advanced on Thursday, mainly lifted by interest in certain issues, an analyst said. The bellwether 30-company Philippine Stock Exchange index rose 31.28 points or 0.74 percent to 4,234.96 while the broader all shares climbed 24.25 points or 0.80 points or 3,089.80. Among the six sectoral indices, Holding Firms, Mining & Oil, and Industrial led the advancers, posting improvement between 1.06 percent and 1.30 percent. Gainers beat losers, 79 to 61, while 38 stocks ended unchanged. Some 1.1 million shares traded hands valued at P4.133 billion. An analyst cited the gain in the share price of PSE as the main catalyst for the bullish mood of investors. "A sudden surge in PSE share price set the general tone for today's trading, giving investors some buying confidence in the face of another flat movement in the Dow overnight," said a market note written by Justino Calaycay Jr., Accord Capital trader. PSE shares were the third top-gainer of the session, posting a 33-percent jump to P525. Meanwhile, top-traded Philippine Long Distance Telephone Co. slipped P10 or 0.4255 percent to P2,340. Lopez Holdings Corp. surged P0.28 or 5.1948 percent to P5.67. Aboitiz Power Corp. lost P0.05 or 0.156 percent at P32. Port operator International Container Terminal Services Inc. gained P1.45 or 3.0177 percent at P4.50. Holding firm Alliance Global Group Inc. added P0.30 or 2.7174 percent at P11.34. -- CMA/OMG, GMA News