PSE RISE FURTHER

The Philippine Stock Exchange (PSE) continued to be in positive territory today eking out  a gain that brought it up the 6,000 point milestone as investors pumped in their savings to pick blue chip stocks with value turnover hitting P7.28 billion .

With 117 gainers, 61 losers and 42 shares unchanged, the PSE index closed at 6,025.52 points.

SM Investments was the day’s favorite ratcheting up its share price to P946 , up by P26 or 2.83% with value turnover of P1.398 billion with its sister firm SM Prime Holdings at second best active stock closing up higher by P25 centavos to P32 with total trade of PP457 million.

BDO Unibank, another part of the Sy empire, declined further , no doubt due to the realization that it may get a hit from its over P2 trillion in loan portfolio for which it allotted yesterday an additional P20 billion in loan loss provision aside from the over P2 billion it set aside as of end of the first quarter.

BDO lost another peso to close at P98 while another bank stock, Philippine National Bank did not fare as well ending the day’s trade 40 centavos lower to P21.30.

Metrobank posted gains together with Bank of PI, Security Bank and Philippine Business Bank with all counters displaying big gains.

Jollibee again rose padding its share price by P6.50 to close at P123.60 per share