Philippine stocks recover after two-day decline

The third investment grade score for the Philippines as well as the all-time high record of Dow Jones cheered the local stock market on Wednesday, sending the benchmark index to a soft recovery after two-day snap.

Astro del Castillo, First Grade Finance managing director, said in a telephone interview that the market mainly bounced back because of another upgrade for the country, which was given by Japan Credit Rating Agency and the record high registered in Dow Jones over night.



Del Castillo, however, specified that investors seem to remain cautious as value turnover stayed thin in the Wednesday trade. “In the next few days, consolidation is seen,” he added.

Source:  http://www.manilatimes.net
              http://www.bloomberg.com


TOP GAINER% Change
Globe Telecom Inc+4.52%
Ayala Land Inc+2.18%
Petron Corp+1.89%
Ayala Corp+1.51%
Metro Pacific Invest...+1.31%
Jollibee Foods Corp+1.17%
Philippine Long Dist...+1.04%
DMCI Holdings Inc+1.03%
Universal Robina Cor...+0.81%
Megaworld Corp+0.73%
TOP LOSER% Change
Aboitiz Power Corp-1.77%
Philex Mining Corp-0.98%
Manila Water Co Inc-0.98%
Belle Corp-0.93%
Bloomberry Resorts C...-0.67%
JG Summit Holdings I...-0.52%
Manila Electric Co-0.51%
Energy Development C...-0.32%
Bank of the Philippi...-0.29%
Alliance Global Grou...-0.20%