Shares rise on vaccine news

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    Share prices ended up Tuesday as investors welcomed news of the advancement in the vaccine against the new coronavirus disease 2019.

    The Philippine Stock Exchange index (PSEi) was up 349.63 points to 7,035.48, a 5.23 percent hike.

    The broader all shares index was up 135.35 points to 4,096.47, a 3.42 percent hike.
    Gainers edged losers 131 to 87 with 35 stocks unchanged. Trading turnover reached P13.08 billion.

    The peso closed at 48.27 to the dollar, down from 48.145 on Monday. It opened at 48.24 and hit a high of 48.20 and a low of 48.27. Trading turnover reached $710.6 million.

    SB Equities Inc. said the market advanced for a seventh-straight session on heavy volume “amid enthusiasm over Pfizer’s vaccine trial results.”

    “Despite the third quarter GDP (gross domestic product) contracting more-than-expected, the local bellwether index tracked the global equity rally and jumped from the open, holding onto strong gains all session before finishing on its highs,” it said.

    SB Equities added this is the first time the PSEi closed above the 7,000 mark since February.

    Most actively traded SM Investments Corp. was up P110 to P1,100. Ayala Land Inc. was up P3.05 to P37.75. SM Prime Holdings Inc. was up P2.245 to P38.30. BDO Unibank Inc. was up P2.85 to P95.50. Ayala Corp. was up P51 to P840. Jollibee Foods Corp. was up P1.30 to P200.20. GT Capital Holdings Corp. was up P19.50 to P529.50. Chelsea Logistics and Infrastructure Holdings Corp. was up P1.24 to P6.30. Bank of the Philippine Islands was up P3 to P81. JG Summit Holdings Inc. was up P3.60 to P74.