Shares up for 6th day

    1692

    Share prices ended up Monday as investors started to digest company results for the third quarter.

    The Philippine Stock Exchange index (PSEi) was up 7.13 points to 6,491.19 a 0.11 percent hike.

    The broader all shares index was down 0.59 of a point to 3,859.36, a 0.02 percent drop.

    Losers edged gainers 107 to 102 with 44 stocks unchanged. Trading turnover reached P31.09 billion, including the P29.1-billion initial public offering of Converge Information and Communications Technology Solutions Inc. (See related story on Page 3)

    The peso closed at 48.395 to the dollar, up from 48.48 on Friday.

    The currency opened at 48.42, an intraday low and hit a high of 48.36. Trading turnover reached $671.25 million.

    SB Equities Inc. said the market “advanced for a sixth straight session, albeit at a slower pace, on continued optimism over government efforts to re-open the economy after announcing foreign nationals would be allowed in starting November 1 while also allowing outbound travel for Filipinos without prior testing.”

    Investors were focused on digesting incoming third quarter corporate earnings amid a fourth straight date of net foreign buying. Foreign funds were net buyers of P4.44 billion of shares.

    Most actively traded Converge ICT was down P1.58 to P15.22. SM Investments Corp. was up P11 to P981. Ayala Land Inc. was down P0.45 to P34.40. Ayala Corp. was down P9 to P766. Dito CME Holdings Corp. was up P0.20 to P6.81. BDO Unibank Inc. was down P1.75 to P95.25. Bank of the Philippine Islands was up P0.20 to P74.60. Jollibee Foods Corp. was down P2.60 to P176.40.

    International Container Terminal Services Inc. was up P0.60 to P116.30. SM Prime Holdings Inc. was down P0.30 to P34.20.