Stocks, peso rise

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    Share prices ended higher  yesterday on reports of better-than-expected inflation rate in August.

    The Philippine Stock Exchange index (PSEi) was up 57.33 points to 7,898.19, a 0.73 percent hike.

    The broader all shares index was up 20.51 points to 4,774.28, a 0.43 percent hike.

    Gainers edged losers 113 to 77 with 53 stocks unchanged.

    Trading turnover reached P7.11 billion.

    The peso closed at 52.10 to the dollar, down from P51.935 on Wednesday.

    The currency  opened at 51.885, hit a high of 51.82 and a low of 52.02.

    Trading turnover reached $1.45 billion.

    Broker SB Equities Inc., said the market “pop(ped)right after the opening bell as better than expected CPI (consumer price index) print paired with regional optimism stemming from developments in Hong Kong.”

    Most actively traded Metro Pacific Investments Corp. was up P0.24 to P5.23. SM Investments Corp. was down P1,031. BDO Unibank Inc. was steady at P145. SM Prime Holdings Inc. was down P0.10 to P34.05. Megaworld Corp. was up P0.16 to P5.18. Metropolitan Bank and Trust Co. was down P0.05 to P70. Ayala Land Inc. was up P1.10 to P48.50.