Gains extended

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    Share prices ended higher Thursday amid continued bargain-hunting.

    The Philippine Stock Exchange index was up 83.99 points to 6,581, a 1.29 percent hike.

    The broader all shares index was up 41.90 points to 3,976.83, a 1.07 percent hike.

    Gainers edged losers 136 to 62 with 50 stocks unchanged. Trading turnover reached P6.1 billion.

    The peso closed at 48.58 to the dollar, up from 48.665 on Wednesday.

    The currency opened at 48.66, an intraday low and hit a high of 48.56. Trading turnover reached $691.29 million.

    Most other regional currencies weakened against the dollar as the greenback hit a fresh four-month high, Reuters reported.

    “Investors continued to buy into Philippine shares which were heavily sold last week as covid cases continued to stabilize, regional tech stocks continued to be sold and investors made bets ahead of the BSP (Bangko Sentral ng Pilipinas) meeting (yesterday) afternoon,” said Luis Limlingan, managing director at Regina Capital and Development Corp.

    Most actively traded Ayala Land Inc. was up P0.15 to P36.05. DDMP REIT Inc. was down P0.01 to P2.24. BDO Unibank Inc. was steady at P105. Basic Energy Corp. was up P0.18 to P0.91. Dito CME Holdings Corp. was up P0.56 to P10.36. Puregold Price Club Inc. was up P0.55 to P41. SM Investments Corp. was up P14 to P984. Semirara Mining and Power Corp. was up P1.32 to P13.32. Universal Robina Corp. was up P5 to P132. International Container Terminal Services Inc. was steady at P126.50.