Sy-led companies lead PSEi to 17th record close

Posted at 02/18/13 5:39 PM

MANILA, Philippines - The Philippine Stock Exchange index hits another record high, lifted by Sy-led companies.

The main index settled at 6,565.23 , 0.67%  or 43.59 points higher. This is the PSEi's 17th record close so far this year. 

Among the day's biggest gainers, SM Prime Holdings rose 3.16% to P18.88, as it exceeded its profit growth target for a second straight year. SM Prime's net income grew 16% to P10.5 billion.

SM Development also climbed 11%, while SM Investments is also up 1%. Banco de Oro also surged 2%.

Andrew Tan-led Alliance Global also rose nearly 1% to P20.30 as its liquor unit aims to get 33% of the global brandy market in 5 years' time. 

At the foreign exchange market, the peso ended 2 centavos weaker, closing at P40.62 against the dollar. - ANC