Share prices ended higher Thursday as investors bought up stocks in time for window-dressing that caps the year’s trading sessions.
The Philippine Stock Exchange index was up 128.86 points to 7,248.05, a 1.81 percent hike.
The broader all shares index was up 41.23 points to 3,838.45, a 1.09 percent hike.
Gainers edged losers 115 to 58 with 49 stocks unchanged. Trading turnover reached P4.61 billion.
The peso closed at 50.045, up from Wednesday’s 50.19.
The unit opened at 50.14 and hit a high of 50.04 and a low of 50.188. Trading turnover reached $848.27 million.
Global markets, including all three major indexes on Wall Street, recorded strong gains supported by positive economic data and hopeful developments around COVID-19.
“Philippine shares made a complete turnaround from yesterday’s selling, closing broadly higher as investors momentarily brushed aside fears from the spreading of the omicron variant,” said Luis Limlingan, managing director at Regina Capital and Development Corp.
“Investors have been grappling with fears of the fast-spreading omicron variant, surging inflation and the end of ultra-easy monetary policy,” he added.
Most actively traded Metropolitan Bank and Trust Co. was up P1.90 to P55. AC Energy Corp. was up P0.50 to P11.10. Monde Nissin Corp. was up P0.08 to P15.98. Megaworld Corp. was up P0.12 to P3.18. Ayala Land Inc. was up P1.30 to P35.30. SM Investments Corp. was up P36 to P979. PLDT Inc. was down P23 to P1,847.
