Share prices rose Thursday, tracking overseas leads.
The peso closed lower.
The Philippine Stock Exchange index was up 79.79 points to 7,024.67, a 1.15 percent hike.
The broader All Shares index was up 25.44 points or 0.68 percent to 3,791.65.
Losers edged gainers 107 to 90 with 60 with 5.45 billion.
The peso ended at 56.20 to the dollar, down from 55.975 on Wednesday.
The currency opened at 56.08 and hit a high of 55.96 and a low of 56.20. Trading turnover reached $1.7 billion.
Currency traders in emerging Asia mostly expressed caution after US inflation data dampened bets of a bigger 50-basis-point Federal Reserve interest rate cut next week.
Japhet Tantiangco, analyst at Philstocks Financial Inc., said the market took cues from Wall Street’s overnight rise driven by the decline in the US’ headline inflation in August.
“NEDA’s (National Economic and Development Authority) projection of the local economy growing faster in the second half of the year compared to the first half also gave the market a boost,” he said.
Most actively traded International Container Terminal Services Inc. was up P11.40 to P418.60. DigiPlus Interactive Corp. was down P1 to P20. BDO Unibank Inc. was up P1.20 to P159.60. Ayala Land Inc. was up P0.70 to P35.45. SM Investments Corp. was up P14 to P920. Ayala Corp. was up P6 to P616. Globe Telecom Inc. was down P34 to P2,202. Jollibee Foods Corp. was up P6 to P256. Bloomberry Resorts Corp. was up P0.24 to P8.21.
