Stocks up on late-buying

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    Share prices ended higher Monday on late-buying .

    The Philippine Stock Exchange index (PSEi) was up 29.18 points to 5,997.14, a 0.49 percent hike.

    The broader all shares index was up 13.30 points to 3,590.68, a 0.37 percent hike.
    Gainers edged losers 110 to 99 with 37 stocks unchanged. Trading turnover reached P4.71 billion.

    The peso closed at 48.51 to the dollar, up from 48.54 on Friday.

    The peso opened at 48.56, an intraday low, and hit a high of 48.51. Trading turnover reached $212.6 million.

    “After an initial weakness brought by continuous foreign selling early morning, the PSEi managed to recover and finished at the day’s high as investors turn a bit more optimistic on the country’s road to recovery,” said stockbroker SB Equities Inc.

    “This comes after the Bayanihan 2 was signed into law last Friday that will provide fiscal stimulus to multiple industries, giving a bit of macro story on a market with thin corporate news flow at the moment,” it added.

    Most actively traded SM Prime Holdings Inc. was up P0.50 to P28.85. SM Investments Corp. was up P10 to P915. Ayala Land Inc. was up P0.90 to P31.30. Dito CME Holdings Corp. was up P0.20 to P3.63. Universal Robina Corp. was down P2.90 to P142. Jollibee Foods Corp. was down P0.60 to P135. BDO Unibank Inc. was down P1.60 to P89.50. Ayala Corp. was steady at P700. Puregold Price Club Inc. was down P1.45 to P48.55. PLDT Inc. was down P30 to P1,455.