Shares up, peso firmer at 50.885:$1

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    Share prices ended up Wednesday on late-session buying.

    The Philippine Stock Exchange index was up 28.87 points or by 0.36 percent to 8,020.06.

    The broader all shares index was up 13.94 points or by 0.29 percent to 4,801.11.
    Gainers edged losers 90 to 80 with 5 stocks unchanged.

    Trading turnover reached P5.99 billion.

    The peso ended stronger at 50.885 to the dollar, its high, from 51.09 on Wednesday.

    The currency opened at 51.07 and hit a low of 51.09. Trading turnover reached $1.05 billion.

    “Philippine shares drifted for most of the session but closed higher on window-dressing towards the end as trade headlines and a spate of corporate earnings weighed on shares ahead of tonight’s expected rate cut by the Federal Reserve kept investors at bay,” said Luis Limlingan, managing director at Regina Capital Development Corp.

    Limlingan said the market is observing carefully how the US and China towards an interim trade agreement.

    Most actively traded SM Investments Corp. was steady at P1,027. Metropolitan Bank and Trust Co. was up P1.45 to P67.45. SM Prime Holdings Inc. was was up P0.05 to P39.05.

    BDO Unibank Inc. was up P3.60 to P155.70. Universal Robina Corp. was down P0.50 to P151. Ayala Land Inc. was up P0.55 to P49.55. Ayala Corp. was steady at P865. Bank of the Philippine Islands was up P0.85 to P99.90. All Home Corp. was steady at P11.50. Alliance Global Group Inc. was down P0.36 to P11.60.