MANILA, April 27 (PNA) –- Local share prices sustained their win streak for the third straight day Monday, as investors positioned for first-quarter corporate earnings and with gains overnight on Wall Street.
The barometer Philippine Stock Exchange index (PSEi) advanced 10.82 points to 7,958.07 from Friday’s 7,947.25 close.
Stock brokerage RCBC Securities Inc. said the release of first-quarter earnings beginning this week helped bouy the local bourse going forward.
2TradeAsia.com said market participants also took their cue from Wall Street’s incline.
The major stock indexes were up Friday.
Monday’s market gains were led by mining and oil that surged 2.02 percent.
The sub-indices of other counters increased slightly, while financial finished in the red.
The day’s top gainers were led newly-listed chemical manufacturer Crown Asia Chemicals Corp., Nickel Asia Corp., Bogo Medellin Milling Company Inc., Calata Corp. and IP-Egame Ventures Inc.
Value turnover reached Php8.13 billion with 686.72 billion shares changing hands.
Advancers won decliners, 92 to 88, while 48 issues were unchanged. (PNA)