Share prices ended higher Monday on bargain hunting.
The peso closed up.
The Philippine Stock Exchange index rose 36.94 points to 6,652.49, a 0.56 percent hike.
The broader All Shares index was up 18.34 points or 0.52 percent to 3,516.51.
Gainers edged losers 112 to 74 with 50 stocks unchanged. Trading turnover reached P4.13 billion.
The peso closed at 57.22 to the dollar, up from 57.345.
The currency opened at 57.20 and hit a high of 57.10 and a low of 57.28. Trading turnover reached $1.04 billion.
Regional currencies were mixed after data on Friday showed US job growth slowed more than expected in April, with the Fed signalling it was still leaning towards eventual rate cuts.
Markets are now pricing in 45 basis points of cuts this year, with a reduction in November fully priced in.
Luis Limlingan, managing director at Regina Capital and Development Corp. said investors bout local stocks as they await the release of inflation and GDP figures.
“Additionally, investors are monitoring the ongoing corporate earnings report releases here at home,” he said.
“Meanwhile, heading over to the US, Fed official Barkin is scheduled to present an economic outlook speech in Columbia, South Carolina. Fed representatives Williams and Kashkari are slated to deliver a speech for tomorrow,” Limlingan added.
Most actively traded SM Investments Corp. was up P2.50 to P944.50. Ayala Land Inc. was down P0.05 to P26.80. BDO Unibank Inc. was steady at P148.30. International Container Terminal Services Inc. was up P5 to P347. Jollibee Foods Corp. was steady at P219.
DigiPlus Interactive Corp. was up P0.24 to P13.72. SM Prime Holdings Inc. was down P0.05 to P27.35. Universal Robina Corp. was up P5.80 to P106.90. Metropolitan Bank and Trust Co. was down P0.10 to P71.50. Puregold Price Club Inc. was up P0.65 to P23.45.
