PSEi buoyed by strong earnings

Upbeat first-half earnings reports pulled the Philippine Stock Exchange index (PSEi) out of negative territory in mostly flat trade Wednesday, spared from the prevailing negative sentiment on overseas markets and local profit-taking to stay close to the 7,000 level.

The benchmark index registered a modest 0.04 percent gain, adding 2.75 points to close at 6,986.24, while the wider All Shares index closed at 4,177.55, gaining 2.23 points or 0.05 percent.