The trading week opened on a subdued yet optimistic footing, said
"Shares brushed off Friday's fall to regain their footing and looked poised to snap Friday's slide," Calaycay said. The main index rose nearly 30 points after the opening bell "but found stiff resistance at the 6,870 level," he said.
Calaycay said that over the first six months of the year, the market demonstrated general optimism that has already been validated by numbers.
"Optimism will remain the principal sentiment going into the second semester, with the broad economy seen [posting] improving numbers," he said, but added that caution will nonetheless temper this optimism.
Except for the rising tension in
The sectoral indices were mixed. Mining and oil led the gains, rising 149.92 points or 0.92 percent to 16,541.46, followed by services, which added 12.02 points or 0.59 percent to 2,051.79. Holding firms advanced 12.46 points or 0.20 percent to 6,243.17.
Property retreated 20.63 points or 0.78 percent to 2,607.60 while industrial firms lost 39.03 points or 0.38 percent to 10,345.23. Financials dipped 1.48 points or 0.09 percent to 1,631.47.
Trading volume was higher with 5.04 billion shares worth
Some of the most actively traded stocks on Monday were
Asked for comment on the sharp rise in its share price,
(c)2014 The Manila Times (Manila, Philippines)
Visit The Manila Times (Manila, Philippines) at www.manilatimes.net
Distributed by MCT Information Services