PSEi ends the week up, lifted by banks

Posted at 02/15/13 7:32 PM

MANILA, Philippines - The Philippine Stock Exchange index (PSEi) ended the week in green territory.

The PSEi closed slightly higher at 6,521.64, up 0.13% on Friday.

Among the gain's gainers were Metrobank, up 0.53% and BDO Unibank which climbed 0.70%.

SM Development surged 8% as it denied reports it is merging with SM Prime Holdings

On the other hand, mining stocks sank, following a landslide at Semirara Mining Corp.'s open pit mine in Antique. Semirara fell 2.44% to P231.40.

Philex Mining, which said it will pay a P1 billion fine to the government on Monday, dropped 0.53% P18.50.

At the foreign exchange market, the peso ended 3 centavos stronger at 40.60 against the US dollar. - With ANC