Shares extend gains

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    Share prices ended higher Thursday tracking overseas leads.

    The Philippine Stock Exchange index (PSEi) was up 113.51 points to 7,194.13, a 1.6 percent hike.

    The broader all shares index was up 51.16 points to 4,273.25, a 1.21 percent hike.
    Gainers edged losers 121 to 98 with 43 stocks unchanged. Trading turnover reached P10.74 billion.

    The peso closed at 48.045 to the dollar, up from Wednesday’s 48.05.

    The currency opened at 48.045, and hit a high of 48.031 and a low of 48.06. Trading turnover reached $693.8 million.

    Japhet Tantiangco, analyst at Philstocks Financial Corp., said the optimism was primarily driven by hopes of a vaccine for the new coronavirus 2019 disease as the United Kingdom approves Pfizer and BioNTech’s vaccine for use.

    Luis Limlingan, managing director at Regina Capital Development Corp., said investors are waiting for development in the US’ debate for a COVID-19 financial relief bill.

    “The Democratic front seems to have yielded on their insistence on a multi-trillion dollar fiscal stimulus package, raising the odds that a deal can be reached before the end of the year,” Limlingansaid.

    Most actively traded Metropolitan Bank and Trust Co. was up P1.70 to P50.90. Bank of the Philippine Islands was up P4 to P84. BDO Unibank Inc. was up P3.40 to P107.50. Ayala Land Inc. was down P0.90 to P39.60. Security Bank Corp. was up P8.50 to P132.

    International Container Terminal Services Inc. was down P0.40 to P121.50. Ayala Corp. was up P11 to P860. SM Prime Holdings Inc. was up P0.80 to P39. SM Investments Corp. was up P17 to P1,047. Robinsons Land Corp. was up P0.76 to P18.46.