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Stocks gain for 3rd day

The local stock market continues to inch back towards the 6,000 level on imdications that government will resume the reopening of the economy. 

The main index advanced 41.06 points or 0.69 percent to close at 5,995.00 although half of sectoral indices were in the red. 

Volume surged to 5.9 billion shares worth P17.08 billion with losers outpacing gainers 102 to 85 with 47 unchanged. 

AAA Equities Head of Research Chris Mangun said “Investors are slowly gaining confidence after reassurance that the lockdown will be eased at the end of the week. Vaccine hopes have also lifted the sentiment.” 

Regina Capital Development Corporation Managing Director Luis Limlingan said gains were made “as investors weighed the outlook for the US economy amid a slowing in the number of new coronavirus cases and a lack of progress toward additional coronavirus aid from Washington.”


Source: Manila Bulletin (https://mb.com.ph/2020/08/12/stocks-gain-for-3rd-day/?utm_source=rss&utm_medium=rss&utm_campaign=stocks-gain-for-3rd-day)

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