Share prices rose Thursday on continued bargain hunting.
The peso closed down.
The Philippine Stock Exchange index was up 73.15 points to 6,52319, a 1.13 percent hike.
The broader All Shares index was up 26.30 points or 0.77 percent to 3,456.32.
Gainers edged losers 107 to 76 with 43 stocks unchanged. Trading turnover reached P6.56 billion.
The peso closed at 57.19 to the dollar, down from 57.18 on Wednesday.
The currency opened at 57.15 and hit a high of 57.01 and a low of 57.24. Trading turnover reached $1.8 billion.
Mikhail Philippe Plopenio, analyst at Philstocks Financial Inc. said investors continued to take opportunities from the market’s recent steep decline.
“Fueling the positive sentiment was the resurfacing of rate cut hopes as Bangko Sentral ng Pilipinas Governor Eli Remolona Jr. stated the possibility of monetary easing starting in the fourth quarter of this year,” he said.
Most actively traded BDO Unibank Inc. was down P1.90 to P148.10. SM Investments Corp. was up P2 to P940. Ayala Land Inc. was up P1 to P27.90. International Container Terminal Services Inc. was up P16 to P331. SM Prime Holdings Inc. was down P0.20 to P28.05. Bank of the Philippine Islands was up P6 to P124. Metropolitan Bank and Trust Co. was up P1 to P67. GT Capital Holdings Inc. was up P4 to P594. Universal Robina Corp. was down P3 to P93. Manila Electric Co. was down P9.80 to P350.20.
