Reopening news lifts shares

    386

    Share prices ended up Tuesday as investors bet on the further opening up of the economy.

    The Philippine Stock Exchange index was up 84.85 points to 7,044.06, a 1.22 percent hike.

    The broader all shares index was up 41.18 points to 4,248.84, a 0.98 percent hike.
    Gainers edged losers 122 to 89 with 54 stocks unchanged. Trading turnover reached P18.16 billion.

    The peso closed at 48.25, down from Monday’s 47.93.

    The currency opened at 47.95 and hit a high of 47.935 and a low of 48.25. Trading turnover reached $ 1 billion.

    “Hopes for further easing of restrictions and bargain hunting lifted the market,” said Claire Alviar, analyst at Philstocks Financial Corp.

    “Given the advice of the NEDA (National Economic and Development Authority) that the Philippines should be placed under less restrictive quarantine measures sparked hopes for an economic recovery in the Philippines, in addition to the plan of reopening the cinemas by March 1, investors positively reacted on this news,” Alviar said.

    Most actively traded SM Investments Corp. was up P10 to P1,070. Dito CME Holdings Corp. was up P0.58 to P17.98. Premier Horizon Alliance Corp. was down P0.11 to P2.79. Ayala Land Inc. wwas up P0.10 to P40.10. Trans Pacific Broadband Group International Inc. was down P0.10 to P0.54. Greenergy Corp. was up P0.71 to P3.99. MerryMart Consumer Corp. was down P0.16 to P7.34. Converge Information and Communication Technology Solutions Inc. was up P0.32 to P18.84. SM Prime Holdings Inc. was up P1.25 to P38. Apollo Global Capital Inc. was up P0.006 to P0.243.