MANILA, April 16 (PNA) — Local share prices tracked the positive movement in global markets Thursday and snapped their four-day losing streak.
The barometer Philippine Stock Exchange index (PSEi) surged 41.74 points or 0.53 percent to 7,948.20 from Wednesday’s 7,906.46 close.
Equities brokerage DA Market Securities Inc. said the local bourse was buoyed by the overnight upswing of United States stocks following several strong earnings reports.
It said European shares also hit a 14-year high after the European Central Bank affirmed its loose policy stance.
The market’s gain was led by industrial that advanced 1.15 percent.
The sub-indice of mining and oil declined slightly.
Volume was thin at 851.99 million valued at PHP11.01 billion.
Advancers led decliners, 95 to 83, while 50 issues were unchanged.
The day’s top gainers were led by ATN Holdings Inc., Manila Mining Corp., Philippine H2O Ventures Corp., iPeople Inc. and Bogo Medellin Milling Company Inc. (PNA)