Stocks extend win streak to 4 days

MANILA, Philippines — Share prices extended their winning streak to four days, ending the week on a positive note as strong corporate earnings for the second quarter start to pour in.

The Philippine Stock Exchange index (PSEi) gained 48.6 points or 0.66 percent to close at 7,399.18 from Thursday’s 7,350.58.

Advancers outweighed decliners 103 to 91, with 46 unchanged. Some 1.49 billion shares worth P5.46 billion changed hands, higher than the P5.53 billion last Thursday.

Save for the services index, all other counters ended on positive territory.

The property index emerged as the biggest winner, gaining 30.84 points, or 0.86 percent, to close at 3,612.92 followed by holding firms with 56.15 points, or 0.77 percent, to settle at 7,304.95.

A trader said investors continued to pick up shares of family-owned conglomerates and blue chip stocks in anticipation of the release of stronger earnings for the second quarter of the year.

Conglomerate Ayala Corp. emerged as the mostly traded stock with P374.59 million changing hands but it lost P2 to close at P964 per share.