Stocks mixed ahead of earnings results

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    Share prices ended mixed Monday, the start of a shortened trading week, as investors took positions ahead of the upcoming release of third quarter corporate results.

    The Philippine Stock Exchange index (PSEi) was up 24.03 points to 7,946.53, a 0.3 percent hike.

    The broader all shares index was up 7.22 points to 4,774.25, a 0.15 percent hike.

    Losers edged gainers 105 to 81 with 65 stocks unchanged.

    Trading turnover reached P5.88 billion.

    The peso closed at 51.08 to the dollar, up from 51.135 on Friday.

    The currency opened at 51.15, hit a high of 51.08 and a low of 51.18. Trading turnover reached $665.3 million.

    “Philippine shares climbed on strong quarterly earnings with the likes of BDO Unibank Inc. and Manila Electric Co. reporting, as well as abroad from Intel and the progress on the US-China trade relations,” said Luis Limlingan, managing director at Regina Capital Development Corp.

    Broker SB Equities Inc. said the market “trekked higher at the start of a shortened trading week on optimism over the progress of US-China trade talks and local corporate earnings.”

    “With sentiment also positive after the S&P 500 hit record highs from Friday’s US session, the PCOMP (PSEi) opened higher and traded moderately stronger for the bulk of the session,” SB Equities said.

    Most actively traded SM Investments Corp. was down P3 to P1,024. BDO Unibank Inc. was up P4.20 to P152. Suntrust Home Developers Inc. was up P0.46 to P1.171. Ayala Land Inc. was up P0.30 to P48.80. Bank of the Philippine Islands was steady at P99. PLDT Inc. was down P7 to P1,092. Metropolitan Bank and Trust Co. was up P1.95 to P65.35. SM Prime Holdings Inc. was down P0.75 to P38.10. AllHome Corp. was steady at P11.50. JG Summit Holdings Inc. was up P1.80 to P75.