Stocks up on prospects of eased restrictions

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    Share prices ended up Tuesday as investors bet on further opening of the economy by March.

    The Philippine Stock Exchange index (PSEi) was up 41.07 points to 7,065.55, a 0.58 percent hike.

    The broader all shares index was up 17.36 points to 4,249.93, a 0.41 percent hike.
    Gainers edged losers 127 to 104 with 40 stocks unchanged. Trading turnover reached P12.27 billion.

    The peso closed at 48.049 to the dollar, down from 48.046 on Monday. The currency opened at 48.06, an intraday low and hit a high of 48.04. Trading turnover reached $357.6 million.

    SB Equities Inc. said the market traded higher “amid expectations of a potential gradual reopening or calibrated easing of community quarantine restrictions in March.”

    Luis Limlingan, managing director at Regina Capital Development Corp., said investors repositioned “after the release of the results of the PSEi rebalancing, while others made bets ahead of the MSCI’s decision later.”

    “Others became hopeful that the new COVID19 stimulus coupled with further economic recovery would be enough impetus for companies to recover,” he said.

    Most actively traded Dito CME Holdings Corp. was down P0.52 to P15.88. AC Energy Corp. was up P0.06 to P7.81. Apollo Global Capital Inc. was up P0.037 to P0.250. BDO Unibank Inc. was up P1.40 to P112.50.

    Premiere Horizon Alliance Corp. was up P0.34 to P2.94. SM Investments Corp. was up P36 to P1,056. Metropolitan Bank and Trust Co. was up P0.15 to P49.60. PLDT Inc. was up P7 to P1,368. Bank of the Philippine Islands was up P0.55 to P86.65. SM Prime Holdings Inc. was up P0.15 to P37.60.