SHARE prices ended mixed Monday as investors digested more news related to the new coronavirus disease 2019 (COVID-19).
The Philippine Stock Exchange index (PSEi) was down 56.32 points or by 0.97 percent to 5,733.65, while the broader all shares index was down 18.53 points or by 0.53 percent to 3,473.90.
Gainers edged losers 109 to 83 with 44 stocks unchanged. Trading turnover reached P4.76 billion.
The peso closed at 50.79 to the dollar, up from 50.90 on Friday.
The currency opened at 50.90, hit a high of 50.76 and a low of 50.96. Trading turnover reached $320.57 million.
“Local shares started lower as investors remained vigilant on news of a possible treatment for the COVID-19 disease and after the Trump administration announced guidelines for reopening the economy,” said Luis Limlingan, managing director at Regina Capital Development Corp.
Limlingan said Spain and the United Kingdom reported the fewest fatalities in weeks as the pandemic showed signs of easing across Europe.
“Germany is prepping for a limited reopening of its economy on Monday. The US hot spot of New York appeared to be under control after reporting another drop in deaths and a decline in the number of hospitalizations. House Speaker Nancy Pelosi and Treasury Secretary Steven Mnuchin were optimistic about reaching a deal to top up funds in a loan program aimed at helping small businesses stay afloat. Mnuchin said he’s hopeful the deal can be passed in the Senate on Monday and the House on Tuesday,” Limlingan said.
Most actively traded Ayala Land Inc. was down P0.45 to P31.10. SM Investments Corp. was down P15 to P845. SM Prime Holdings Inc. was down P0.45 to P31.50. Ayala Corp. was up P9 to P606 Jollibee Foods Corp. was down P2 to P143. BDO Unibank Inc. was down P2.50 to P102.50.
