Stocks up ahead of earnings results

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    Share prices ended up Wednesday as investors positioned their holdings ahead of corporate earnings results.

    The Philippine Stock Exchange index was up 2.07 points to 5,925, a 0.03 percent hike.

    The broader all shares index was up 10.96 points to 3,580.09, a 0.31 percent hike.
    Gainers edged losers 101 to 80 with 60 stocks unchanged. Trading turnover reached P5.97 billion.

    The peso closed at 48.65 to the dollar, down from 48.535 on Tuesday.

    The currency opened at 48.67 and hit a high of 48.565 and a low of 48.69. Trading turnover reached $715.61 million.

    Luis Limlingan, managing director at Regina Capital Development Corp., said the bellweather index has remained “flat” despite the overall uptick attributed to the halting of efforts of some US drug-makers to come up with an effective vaccine against the coronavirus disease 2019 overseas.

    “Wall Street participants also parsed earnings from some of the biggest financial institutions, to start the third-quarter reporting season,” Limlingan said.

    Most actively traded Dito CME Holdings Corp. was up P0.25 to P8.21. Now Corp. was up P0.50 to P5.21. PLDT Inc. was down P6 to P1,290. Ayala Land Inc. was up P0.30 to P29.80.

    Metro Pacific Investments Corp. was up P0.19 to P2.95. MRC Allied Inc. was up P0.015 to P0.385. Bank of the Philippine Islands was up P1.60 to P68.50. Metropolitan Bank and Trust Co. was up P0.85 to P40.90. SM Investments Corp. was down P20 to P864. Globe Telecom Inc. was up P8 to P2,010.