PSE UP, CLOSES NEAR NEW PSYCHOLOGICAL LEVEL

The Philippine Stock Exchange (PSE) index closed higher today to within a striking distance of a new psychological level as all sub-indices save for the financials, posted gains to show a 59.24 points or 0.86 percent gain to 6,976.73 points.

A 1.14 percent drop in BDO Unibank, which closed down by P1.30 to p112.70, plus the decline in Bank of PI by 20 centavos to P86.25, pushed down the financials by 0.35 percent.

All the other sub-sectors were up: the industrials by 2.10 percent, holding firms by 1.33 percent, services by 0.15 percent, mining and oil by 2.05 percent, and property by 0.76 percent.

Value turnover was hefty at P8.033 billion with 106 gainers, 101 decliners, and 59 shares unchanged. Net foreign selling amounted to P58 million with foreign buying of P2.561 billion and foreign selling P2.621 billion.

Jollibee Foods was the most active stock with trades of P462 million, of which foreign buying amounted to P201 million, as it surged to P215, up by P7.80 while Ayala energy perked up by 34 centavos to P 8.34.

Market bellwether SM Investments went up by P15 to P1,015 while second liners Ever Gotesco, and Cebu Landmasters posted respective gains of P0.01 to P0.55 and 74 centavos to P4.00. Monde Nissin lost 2 centavos to P14.66.

WEEKLY FEATURE : PAL READY TO SOAR WITH PANDEMIC