Share prices ended up Monday as investors lauded the expansion in manufacturing activity in the country.
The Philippine Stock Exchange index was up 78.11 points to 6,872.97, a 1.15 percent hike.
The broader all shares index was up 45.10 points to 4,165.40, a 1.1 percent hike.
Gainers edged losers 149 to 76 with 48 stocks unchanged. Trading turnover reached P8.34 billion.
The peso closed at 48.59 to the dollar, unchanged from Friday’s close.
The currency opened at 48.60 and hit a high of 48.54 and a low of 48.67. Trading turnover reached $678.45 million.
“Local shares edged up with signs of improving economic conditions spurring bargain hunting across the board,” said Luis Limlingan, managing director at Regina Capital and Development Corp.
Limlingan noted factory activity last month remained “somewhat stable, as the February PMI (purchasing managers’ index) came in at 52.5,” noting that it was the “second consecutive month of PMI expansion.”
“Recall that the country’s PMI fell below the 50-mark amid the pandemic,” he said.
Most actively traded SM Investments Corp. was up P16 to P1025. Dito CME Holdings Corp. was down P0.02 to P16.12. Metropolitan Bank and Trust Co. was up P0.90 to P51.60. BDO Unibank Inc. was up P3.90 to P109.40. Ayala Land Inc. was up P0.80 to P39.85. SM Prime Holdings Inc. was down P0.10 to P26.05. Universal Robina Corp. was up P1.40 to P129.10.