PLDT, Globe boost PSEi amid selloff

PLDT and Globe Telecom stocks kept the market afloat in positive territory on Monday following the announcement of the end of talks between San Miguel Corp. and Australia telecom giant Telstra, even as profit-seeking investors dumped shares in the wake of last week’s rally, analysts said.

The benchmark Philippine Stock Exchange Index (PSEi) closed just slightly higher, gaining 0.20 percent or 14.25 points to end the day at 7,112.89, while the wider All Shares was 0.19 percent higher or 7.76 points to finish at 4,103.52.