Peso, stocks rise


    Share prices ended up Thursday as investors took a cue from overseas leads.
    The Philippine Stock Exchange index (PSEi) was up 45.31 points (0.58 percent) to 7,892.81.

    The broader all shares index was up 16.98 points (0.36 percent) to 4,766.77.

    Gainers edged losers 109 to 129 with 87 stocks unchanged.

    Trading turnover reached P6.35 billion.

    The peso closed at 52.18 to the dollar, up from 52.321 on Wednesday. It opened at 52.35, hit a high of 52.18 and a low of 52.40.

    “Philippine shares continued their recovery from Tuesday’s steep downturn as US-China trade concerns eased after Chinese officials indicated they wouldn’t retaliate against the latest US tariffs,” said Broker SB Equities Inc.

    The broker noted recovery despite the seven straight sessions of foreign outflow.

    “Investors bought ahead of the window-dressing period as tomorrow marked the last trading day for August,” said Luis Limlingan, managing director at Regina Capital Development Corp.

    Most-actively traded Ayala Land Inc. was down P0.05 to P47.70. International Container Terminal Services Inc. was steady at P130. SM Prime Holdings Inc. was down P0.05 to P35.

    Universal Robina Corp. was up P0.20 to P172. BDO Unibank Inc. was up P2 to P147. SM Investments Corp. was up P13 to P1,020. Ayala Corp. was down P12 to P935. Bank of the Philippine Islands was up P0.55 to P87.50. Security Bank Corp. was up P2.40 to P195.40.

    JG Summit Holdings Inc. was up P1.60 to P70.50.