Stocks cheer reopening of more industries

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    Share prices ended up Tuesday as investors bet on the eventual opening of the economy.

    The Philippine Stock Exchange index was up 46.57 points to 6,919.54, a 0.68 percent hike.

    The broader all shares index was up 14.52 points to 4,179.92, a 0.35 percent hike.

    Losers edged gainers 121 to 105 with 44 stocks unchanged. Trading turnover reached P9.89 billion.

    The peso closed at 48.565, up from Monday’s 48.59.

    The currency opened at 48.58 and hit a high of 48.50 and a low of 48.61. Trading turnover reached $856.94 million.

    Luis Limlingan, Regina Capital Development Corp. managing director, said the market posted a “broad-based rally as stocks tied to the economic reopening jumped on vaccine optimism.”

    Limlingan also noted gold prices slipped as “a stronger dollar and increased risk appetite eclipsed support from a retreat in US Treasury yields.”

    “Spot gold was down 0.6 percent at $1,723.30 an ounce and US gold futures settled 0.3 percent down at $1,723,” he said.

    Most actively traded Dito CME Holdings Corp. was down P1.06 to P15.06. Abra Mining and Industrial Corp. was up P0.0018 to P0.0054. Premiere Horizon Alliance Corp. was up P0.22 to P3.14. SM Investments Corp. was up P21 to P1,046. BDO Unibank Inc. was down P0.10 to P109.30. Metropolitan Bank and Trust Co. was down P3.50 to P48.10. Ayala Corp. was flat at P780. Ayala Land Inc. was down P0.35 to P39.50. Universal Robina Corp. was up P3.60 to P132.70. PLDT Inc. was up P3 to P13.