Shares up, peso stronger

    130

    Share prices ended up Thursday as investors took to overseas leads to trade the market.

    The Philippine Stock Exchange index (PSEi) was up 17.22 points to 7,950.98, a 0.22 percent hike.

    The broader all shares index was up 1.96 points to 4,780.16, a 0.04 percent hike.
    Gainers edged losers 104 to 80 with 51 stocks unchanged.

    Trading turnover reached P5.19 billion.

    The peso closed at 51.24, up from 50.97 on Wednesday. It opened at 51, hit a high of 50.92 and a low of 51.29. Trading turnover reached $1.22 billion.

    Luis Limlingan, managing director at Regina Capital Development Corp., said local shares rallied in the afternoon session as “investors digested the strength of the US economy on its earnings reports from Caterpillar and Boeing.”

    Limlingan noted that concerns eased a little as “US President Donald Trump lifted recently imposed sanctions against Turkey, citing the cease-fire agreement with Kurdish forces in Syria brokered by Russia.”

    Most actively traded SM Investments Corp. was up P16 to P1,030. Universal Robina Corp. was down P6.20 to P151. Ayala Land Inc. was down P0.05 to P48.95. SM Prime Holdings Inc. was up P0.25 to P39. Suntrust Home Developers Inc. was up P0.28 to P1.19. Ayala Corp. was down P0.50 to P865. AllHome Corp. was down P0.06 to P11.50. JG Sumit Holdings Inc. was down P0.95 to P73. BDO Unibank Inc. was down P0.95 to P73. Jollibee Foods Corp. was up P2.40 to P227.60.