Encouraging prospects push local benchmark index

Encouraging prospects push local benchmark index

The Philippine Stock Exchange index (PSEi) gained 0.51 percent or 37.35 points to end at 7,331.73, while the broader All Shares index likewise rose 0.22 percent or 9.55 points to 4,306.45, indicating positive prospects for the year with the possibility of hitting another record high for 2014.

However market breadth was negative as decliners crushed advancers, 118 to 62, while 41 stocks were unchanged. Value turnover stood lower at P7.65 billion compared to the P8.67 billion recorded last Friday.

Top gainer was Swift Foods Inc. with share prices improving 20 percent. Trans-Asia Petroleum Corp. 2, whose share prices dropped by about 10 percent was the biggest loser for the trading day.