Firmer peso snaps PSEI lose streak

INQUIRER FILES

MANILA, Philippines — The local bourse snapped its three-session losing streak on the last trading day of the week as the peso strengthened against the US dollar.

By the end of the session on Friday, the benchmark Philippine Stock Exchange Index (PSEi) rebounded by 0.57 percent, or 38.37 points, to 6,729.14.

Likewise, the broader All Shares Index added 0.37 percent, or 13.79 points, to close at 3,790.68.

A total of 861.2 million shares worth P5.71 billion changed hands, stock exchange data showed. Foreigners remained sellers, with foreign outflows totaling P419.73 million.

Japhet Tantiangco, research head at Philstocks Financial Inc., said the PSEi made its comeback as the local currency strengthened to the P58 level against the greenback.

Investors likewise continued to digest November inflation data, which ended faster at 2.5 percent versus 2.3 percent in October.

Still, Tantiangco said this is within the lower end of the government’s 2- to 4-percent target range.

Bank of the Philippine Islands was the most actively traded stock as it climbed by 1.56 percent to P130 per share, followed by BDO Unibank Inc., down 2.76 percent to P151.6; DITO CME Holdings Corp., down 8.03 percent to P1.26; International Container Terminal Services Inc., up 1.51 percent to P391; and Ayala Land Inc., down 2.07 percent to P28.4.

Other actively traded stocks were SM Investments Corp., up 2.81 percent to P915; SM Prime Holdings Inc., up 1.91 percent to P26.7; Universal Robina Corp., up 0.2 percent to P76.15; Metropolitan Bank and Trust Co., up 1.47 percent to P76; and Manila Electric Co., down 0.21 percent to P480 each.

Gainers edged out losers, 91 to 83, while 62 companies closed unchanged, stock exchange data showed.

—MEG J. ADONIS