Stocks up on bargain-hunting


    Share prices ended up yesterday on bargain hunting.

    The Philippine Stock Exchange index was up 84.90 points to 5,930.92, a 1.45 percent hike.

    The broader all shares index was up 45.84 points to 3,513.37, a 1.32 percent hike.
    Gainers edged losers 125 to 74 with 45 stocks unchanged. Trading turnover reached P4.88 billion.

    The peso closed at 49.10 to the dollar, up from 49.041 on Friday. It opened at 49.05 and hit a high of 49.01 and a low of 49.06. Trading turnover reached $409.3 million.

    Stockbroker SB Equities Inc. said the market “kicked off the week on the front foot amid optimism of a recovery on the macro and corporate earnings front over upcoming quarters following the record second quarter contraction.”

    Luis Limlingan, managing director at Regina Capital Development Corp., said “bargain-hunting spilled over to the start of the week as the latest employment report showed the economy added more jobs than expected last month… (T)he latest stimulus from the US boosted sentiment as well.”

    Most actively traded BDO Unibank Inc. was down P0.90 to P89. Emperador Inc. was up P0.75 to P9.85. PLDT Inc. was steady at P1,389. Bank of the

    Philippine Islands was down P0.50 to P62.50. Universal Robina Corp. was up P4.30 to P139.70. SM Investments Corp. was up P11.50 to P862. Puregold Price Club Inc. was up P0.65 to P50. Nickel Asia Corp. was up P0.21 to P3.03. Jollibee Foods Corp. was up P3.30 to P137.50. Ayala Corp. was up P29 to P730.