Stocks up, peso down

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    Share prices ended higher Monday as investors took to cherry- picking.

    The Philippine Stock Exchange index (PSEi) was up 5.44 points to 5,937.0, a 0.09 percent hike.

    The broader all shares index was up 7.97 points to 3,571.82, a 0.22 percent hike.

    Gainers edged losers 105 to 96 with 42 stocks unchanged. Trading turnover reached P5.34 billion.

    The peso closed at 48.47 to the dollar, down from Friday’s 48.305. The currency opened at 48.35 and hit a high of 48.33 and a low of 48.47. Trading turnover reached $600.35 billion.

    SB Equities Inc.said the market “ended the session barely changed as investors continued to monitor developments surrounding the House speakership saga which has stalled the fiscal year 2021 national budget approval process.”

    Investors are also waiting for “more solid catalysts such as future economic reopening plans and the third quarter corporate earnings,” it said.

    Most actively traded Dito CME Holdings Corp. was steady at P6.16. PLDT Inc. was down P18 to P1,292. Ayala Land Ind. was down P0.40 to P29.35. Metro Pacific Investments Corp. was down P0.17 to P3.87.

    International Container Terminal Services Inc. was up P4.40 to P120. AC Energy Philippines Inc. was up P0.26 to P3.37. Globe Telecom Inc. was down P48 to P2,002. Now Corp. was down P0.09 to P4.68. SM Prime Holdings Inc. was up P0.90 to P30. Nickel Asia Corp. was up P0.18 to P3.69.