Stocks up, peso strong at 50.50:$1


    Share prices ended higher Monday as investors took to overseas leads to trade the market.

    The Philippine Stock Exchange index was up 82.53 points or by 1.03 percent to 8,059.65.

    The broader all shares index was up 44.25 points or by .92 percent to 4,831.70 points.

    Gainers edged losers 120 to 62 with 41 stocks unchanged.

    Trading turnover reached P6.57 billion.

    The peso closed at 50.50 to the dollar, up from 50.74 on October 31.

    The currency opened at 50.57, hit a high of 50.43 and a low of 50.60. Trading turnover reached $860.5 million.

    Broker SB Equities Inc. said the market “finished off its high following momentum built from optimism in the US-China trade front and positive employment data.”

    Luis Limlingan, managing director at Regina Capital Development Corp., said the market also got a lift off “index heavyweights SMPH’s (SM Prime Holdings Inc.) and SECB’s (Security Bank Corp.) reported stellar 3Q (third qaurter) results and an unexpected bounce in Chinese manufacturing activity helped induce bargain hunting.”

    Most actively traded SM Investments Corp. was down P5 to P1,025. Ayala Corp. was up P4 to P864. Ayala Land Inc. was up P0.45 to P49. SM Prime Holdings Inc. was was up P0.50 to P39.50. Bank of the Philippine Island was up P0.30 to P97.30. BDO Unibank Inc. was up P5 to P159.90. International Container Terminal Services Inc. was up P3.30 to P122. Universal Robina Corp. was up P3.80 to P154.80.