Shares hit 9-month high

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    Share prices ended higher yesterday tracking overseas leads.

    The Philippine Stock Exchange index was up 69.11 points to 7,203.67, a 0.97 percent hike.

    The broader all shares index was up 35.68 points to 4,286.05, a 0.84 percent hike.

    Losers edged gainers 114 to 122 with 37 stocks unchanged. Trading turnover reached P9.56 billion.

    The peso closed at 48.08 to the dollar, down from 48.04 on Friday.

    The currency opened at 48.07 and hit a high of 48.055 and a low of 48.09. Trading turnover reached $539.45 million.

    SB Equities Inc. said the market posted a fresh nine-month high on investors’ “improved sentiment over vaccine developments and US fiscal stimulus hopes.”

    “With optimism also stemming from the expected enactment of the Corporate Recovery and Tax Incentives for Enterprises and Financial Institutions Strategic Transfer bills by yearend, the local bourse traded stronger amid the first session of foreign inflows in 10 days,” SB Equities said.

    Foreign funds were net buyers of P113.93 million.

    Most actively traded Dito CME Holdings Corp. was up P0.69 to P7.61. Metropolitan Bank and Trust Co. was up P0.75 to P51.75. Ayala Corp. was down P4.50 to P860. Ayala Land Inc. was down P0.15 to P39.80. BDO Unibank Inc. was up P1.10 to P109.50. SM Prime Holdings Inc. was up P1.10 to P38.70 SM Investments Corp. was upP24 to P1,050.

    International Container Terminal Services Inc. was up P5 to P126. PLDT Inc. was down P23 to P1,327. Bank of the Philippine Islands was down P1.15 to P83.