Share prices ended higher Thursday on improved investor sentiment after the recent release of corporate earnings results for 2019.
The Philippine Stock Exchange index (PSEi) was up 16.05 points or by 0.22 percent to 7,413.
The broader all shares index was up 13.78 points or by 0.32 percent to 4,735.87.
Gainers edged losers 90 to 84 with 54 stocks unchanged. Trading turnover reached P5.79 billion.
The peso closed at 50.58 to the dollar, down from 50.54 on Wednesday.
The currency opened at 50.60, hit a high of 50.57 and a low of 50.69.
Trading turnover reached $1.24 billion.
SB Equities Inc. said local shares “finished with moderate gains on Thursday after rising as much as 1 percent amid appetite for risk-assets at attractive valuations and optimism over local earnings.”
Luis Limlingan, managing director at Regina Capital Development Corp., said the market went up “on signs that China may be planning further measures to support its economy as it reels from a virus-induced slowdown and after Federal Reserve officials signaled they aren’t anxious to raise interest rates anytime soon.”
Most actively traded Ayala Land Inc. was up P0.25 to P42.45. Bank of the Philippine Islands was down P0.20 to P85. SM Prime Holdings Inc. was up P0.55 to P41.65. Metropolitan Bank and Trust Co. was up P1.60 to P60.60. BDO Unibank Inc. was up P0.80 to P41.65. Jollibee Foods Corp. was up P4 to P188. SM Investments Corp. was down P6 to P1,032. Ayala Corp. was down P1 to P753. International Container Terminal Services Inc. was up P1.20 to P125.40.
