Stocks extend gains

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CHEERED by the lower-than-expected December inflation figure of 2.7 percent, investors continued to support the local stock market despite declines abroad.

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The Philippine Stock Exchange index (PSEi) closed Wednesday’s trade up 0.44 percent or 31.96 points at 7,309.70, while All Shares index climbed 0.39 percent or 16.88 points to finish at 4,302.62 points.

The financial sub-index was the sole loser among the sectors, declining by 0.76 percent.

The five other sub-indices advanced, led by mining and oil which rose by 2.47 percent.

Shares traded totaled 4.4 billion, valued at P9.8 billion. Advancers outpaced decliners, 96 to 83, while 38 issues were unchanged.

The most active gainers were Universal Robina Corp., LT Group, Travellers International Hotel Group, SM Investments Corp. and Energy Development Corp. ( EDC), while the top losers were Banco de Oro (BDO), Bloomberry Resorts Corp. and Metro Pacific Investments.

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