Markets up

    89

    Share prices ended up Thursday on late-session buying amid a lack of strong leads.

    The Philippine Stock Exchange index was up 15.25 points or by 0.18 percent to 7,930.55.

    The broader all shares index was up 7.24 points or by 0.15 percent to 4,770.93.

    Gainers edged 93 to 79 with 57 stocks unchanged.

    Trading turnover reached P5.71 billion.

    The peso closed at 51.42 to the dollar, up from 51.595 on Wednesday.

    The currency opened at 51.50, hit a high of 51.42 and a low of 51.53.

    Trading turnover reached $1.29 billion.

    Luis Limlingan, managing director at Regina Capital Development Corp., said the market was trading in the red for the most of the session “before closing slightly up, after US retail sales fell for the first time in seven months in September, offsetting a good start to the third-quarter corporate earnings reporting season.”

    “(US) President Trump said a partial trade deal with China probably won’t be signed until next month when he meets with (Chinese President) Xi Jinping at the APEC summit in Chile. He said the Chinese government `has started buying already’ from American farmers, amid questions over whether Beijing can fulfill the annual $50 billion in farm purchases Trump said it has promised,” Limlingan said.

    “Investors struggled for drivers while awaiting for further third quarter corporate earnings releases,” said broker SB Equities Inc.

    Most-actively traded SM Investments Corp. was up P2 to P1,006. Bank of the Philippine Islands was up P1 to P95. Ayala Corp. was down P13 to P865. SM Prime Holdings Inc. was up P0.30 to P38.95. Ayala Land Inc. was up P0.10 to P49.20. Security Bank Corp. was up P1.60 to P200.