Shares bounce back after two days of decline

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    Share prices ended higher Thursday snapping two successive days of decline as investors took to overseas lead to trade the market.

    The Philippine Stock Exchange index was up 71.76 points to 7,119.61, a 1.02 percent hike.

    The broader all shares index was up 41.35 points to 4,271.49, a 0.98 percent hike.
    Gainers edged losers 159 to 72 with 31 stocks unchanged. Trading turnover reached P8.73 billion.

    The peso closed at 48.07 to the dollar, down from 48.033 on Wednesday. It opened at 48.045 and hit a high of 48.04 and a low of 48.07. Trading turnover reached $518.45 million.

    “Philippine shares rebounded on Thursday following two consecutive sessions of decline and advanced together with most Asian stocks amid optimism over potentially bigger US fiscal stimulus as Democrats took control of the Senate,” said stockbroker SB Equities Inc.
    SB Equities said the news of additional domestic funding to support the government’s pandemic response programs also helped sentiment.

    Most actively traded Dito CME Holdings Corp. was up P0.44 to P12.70. AC Energy Philippines Inc. was down P0.05 to P8.95. GT Capital Holdings Corp. was up P14  to P540.

    Metropolitan Bank and Trust Co. was up P2.95 to P47.45. Apollo Global Capital Inc. was up P0.013 to P0.192. PH Resorts Development Corp. was up P0.15 to P3.51. BDO Unibank Inc. was up P7.10 to P107. SM Prime Holdings Inc. was up P0.10 to P39.10. Bank of the Philippine Islands was up P1.90 to P82.90. MerryMart Consumer Corp. was up P0.22 to P7.42.