Investors snap up bargains, peso down

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    Share prices ended higher Tuesday on bargain- hunting.

    The Philippine Stock Exchange index was up 11.56 points to 6,335.56, a 0.18 percent hike.

    The broader all shares index was up 9.90 points to 3,789.47, a 0.26 percent hike.

    Gainers edged losers 125 to 80 with 47 stocks unchanged. Trading turnover reached P6.6 billion.

    The peso closed at 48.41 to the dollar, down from 48.40 on Friday.

    The currency opened at 48.38 and hit a high of 48.42 and a low of 48.355. Trading turnover reached $510.05 million.

    SB Equities Inc. said the market “recovered from early losses to edge higher” after a three-day break with traders remaining cautious as the US election goes underway overnight.

    Investors are also looking at the deluge of corporate earnings report for the third quarter for the week.

    Most actively traded Dito CME Holdings Corp. was down P0.20 to P6.62. BDO Unibank Inc. was up P1.10 to P90. SM Investments Corp. was up P24.50 to P974.50. Converge Information and Communication Solutions Inc. was down P0.24 to P14.54. SM Prime Holdings Inc. was down P0.70 to P33. Bank of the Philippine Islands was up P1.25 to P74.80. Ayala Corp. was down P13 to P750. MerryMart Consumer Corp. was up P0.23 to P3.68. Ayala Land Inc. was down P0.20 to P32.80. PLDT Inc. was down P3 to P1,325.