By Iris Gonzales (The
Philippine Star) | Updated September 29, 2016 - 12:00am
MANILA, Philippines – Share prices
closed higher yesterday, buoyed largely by the recovery in mining stocks,
analysts said.
Mining investors cheered the results
of the Department of Environment and Natural Resources (DENR)’s audit which
cleared some mining companies.
The benchmark Philippine Stock
Exchange index (PSEi) gained 29.62 points, or 0.39 percent, to finish at
7,586.96.
Similarly, the broader All Shares
index rose 21.48 points, or 0.47 percent, to close at 4,517.41.
All sectoral indices closed in
positive territory except for the industrial index, which plunged 11.37 points
or 0.09 percent to finish at 11,805.88.
Total value turnover reached P6.40
billion as advancing stocks beat decliners, 116 to 64 while 50 issues were left
unchanged.
DENR said 11 mining companies passed
the audit. At the same time, it said 20 companies need to “get their acts
together.”
The 11 mining companies that passed
the audits are Pangilinan-led Philex Mining Corp.; Nickel Asia Corp.,’s Rio
Tuba, Nickel Corp., Cagdianao Mining Corp. and Taganito Mining Corp; Atlas
Consolidated Mining and Development Corp.; Techiron Resources Inc.; Platinum
Group Metals Corp.; Philsaga Mining Corp.; Greenstone Resources Corp.; Apex
Mining Co. Inc. and Pacific Nickel Philippines Inc.
During yesterday’s session, the best
performers include Bloomberry Resorts Corp., up 6.03 percent; SM Prime Holdings
Inc., up 2.22 percent; and Megaworld Corp. up 1.76 percent.
No comments:
Post a Comment