Stocks, peso up

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    Share prices ended up Tuesday as investors on overseas leads.

    Shares initially fell after the country reported a record number of new coronavirus disease 2019 deaths for the second time in three days, calling into question its decision to relax social distancing rules. But the shares later recouped losses to trade higher on the day.

    The Philippine Stock Exchange index was up 21.07 points to 6,018.21, a 0.35 percent hike.

    The broader all shares index was up 0.89 points to 3,591.57, a 0.03 percent hike.

    Losers edged gainers 113 to 78 with 51 stocks unchanged. Trading turnover reached P5.55 billion.

    The peso closed at 48.40 to the dollar, up from 48.51 on Monday.

    The currency opened at 48.48, and intraday low, and hit a high of 48.40. Trading turnover reached $884.3 million.

    “Local shares were bought up towards close as sentiment was boosted by a series of high-profile M&A (merger and acquisition) deals and Pfizer’s pledge that vaccine will be ready by yearend,” said Luis Limlingan, managing director at Regina Capital Development Corp.
    “Meanwhile, Sino-US tensions also softened slightly with US easing travel advisory and pulling back from imports bans on China’s Xinjiang (region),” Limlingan said.

    Most actively traded PLDT Inc. was down P50 to P1,405. SM Investments Corp. was up P22 to P937. Century Pacific Foods Corp. was up P0.20 to P18.04. Ayala Land Inc. was was up P0.65 o P31.95. SM Prime Holdings Inc. was down P0.35 to P28.50. BDO Unibank Inc. was up P0.55 to P90.05. Manila Electric Co. was up P5.60 to P278.60. Dito CME Holdings Corp. was up P0.01 to P3.64. Universal Robina Corp. was down P0.80 to P141.20. D&L Industries Corp. was down P0.07 to P5.49.