News on eco recovery, budget lift stocks

    1187

    Share prices ended higher Thursday amid expectation of a recovery in the economy by next year.

    The Philippine Stock Exchange index was up 51.77 points to 7,154.43, a 0.73 percent hike.

    The broader all shares index was up 17.79 points to 4,270.92, a 0.42 percent hike.

    Gainers edged losers 121 to 108 with 41 stocks unchanged. Trading turnover reached P7.64 billion.

    The peso closed at 48.065 to the dollar, down from 48.05 on Wednesday.

    The currency opened at 48.10, an intraday low and hit a high of 48.05. Trading turnover reached $498.1 million.

    SB Equities Inc. said the uptick was primarily due to positive investor sentiment amid the ratification of the 2021 P4.5-trillion national budget bill in Congress.

    Investors were also expecting “a robust growth recovery in the domestic economy and the developing Asia region by next year,” SB Equities said.

    Most actively traded Metropolitan Bank and Trust Co. was down P0.60 to P50.40. Ayala Land Inc. was up P1.35 to P40.05. BDO Unibank Inc. was up P1.30 to P108.30. Abra Mining and Industrial Corp. was up P0.0005 to P0.0026. Dito CME Holdings Corp. was down P0.50 to P38.40. SM Investments Corp. was up P11 to P1,050. SM Prime Holdings Inc. was up P0.50 to P38.40. International Container Terminal Services Inc. was up P3.80 to P123.20. PLDT Inc. was up P5 to P1,330. GT Capital Holdings Corp. was down P12.50 to P656.50.