Share prices closed higher Thursday on improving optimism as financial results for the second quarter start piling in.
The peso closed down.
The Philippine Stock Exchange index (PSEi) was up 71.59 points, a 1.09 percent hike to 6,613.50.
The broader all shares index was up 25 points or 0.72 percent to 3,515.91.
Gainers edged losers 99 to 81 with 44 stocks unchanged. Trading turnover reached P4.52 billion.
The peso closed at 54.52 to the dollar, down from 54.515 on Wednesday.
The currency opened at 54.55 and hit a high of 54.37 and a low of 54.56. Trading turnover reached $1.14 billion.
The US dollar index weakened 0.15 percent to 100.10, but regained some lost ground after a 2 percent slump last week.
Luis Limlingan, managing director at Regina Capital and Development Corp., said Thursday’s uptick was buoyed by “stronger-than-expected” second quarter results locally and regionally.
“The latter creating optimism for a soft landing for the economy,” Limlingan said.
Most actively traded BDO Unibank Inc. was up P4.60 to P146.30. Jollibee Foods Corp. was up P3.80 to P258.80. Ayala Land Inc. was up P0.95 to P27. Bank of the Philippine Islands was up P1.10 to P114.50. SM Investments Corp. was up P19 to P940. International Container Terminal Services Inc. was down P1.60 to P206. SM Prime Holdings Inc. was up P0.10 to P33.10. Metro Pacific Investments Corp. was steady at P4.92. Wilcon Depot Inc. was down P0.40 to P24.10. Ayala Corp. was up P8 to P628.
