PHL shares end morning session flat in range trading

Philippine share prices ended the morning session flat in listless, moderate trading Wednesday. The market is "trading in a tight range... investors looking for new incentives to act on," Joseph Roxas, president of Eagle Equities Inc., noted in a text message.

 

The bellwether PSEi added 12.82 points or 0.18 percent to 7,340.40 at the noon recess.

 

In a separate text message, Nieves Securities Inc. analyst Miko Sayo said "second liners are rebounding but the rest of the market is listless."

 

"Market was up with moderate volume. Gainers were AGI (Alliance Global Group Inc.), PX (Philex Mining Corp.), Pcor (Petron Corp.), Meg (Megaworld Corp.) and URC (Universal Robina Corp.)," said Elizabeth Abadillo, analyst at Angping & Associates Securities Inc.

 

"We expect sideways or consolidation this afternoon due to lack of fresh news," Abadillo added. 

 

The volume was at 341.87 million valued at P3.36 billion. Advancers outweighed decliners 86 to 59 while 47 stocks were unchanged. — VS, GMA News