PSEi up a tad; new leads sought

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SHARE prices firmed on Thursday despite the lack of fresh leads, with the benchmark Philippine Stock Exchange Index (PSEi) gaining 4.01 points or 0.05 percent to close at 7,876.66.

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The broader All Shares rose 0.14 percent or 6.83 points to settle at 4,714.57.

“Philippine shares traded on a lackluster note as investors continue to digest earnings and stay on the sidelines as evident by reduced trading volumes,” Regina Capital Development Corp. said in a note.

Summit Securities Inc. President Harry Liu said the market was consolidating between the 7,850 support and 8,000 resistance levels while waiting for more substantial news.

The industrial, financial, services, and property sub-indices settled in the green, while holding firms and mining and oil ended in the red.

Volume turnover was thin at 917.4 million shares valued at P5.7 billion
Decliners led advancers, 114 to 83, while 54 issues were unchanged.

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