Peso recovers, stocks up

May 25, 2017

The peso recovered from Thursday after hitting an intra-day low of P50 to the US dollar on the previous day. The peso closed at P49.83, up from Wednesday’s P49.995. Volume at the Philippine Dealing system reached $551.20 million from $582 million. Stocks went up, with the broader market gaining due to foreign buying. The Philippine Stock Exchange closed at 33.83 points to 7,871.65. The broader market showed 103 gainers, 84 losers and 53 issues remaining unchanged. Volume reached 1.06 billion shares valued at P6.49 billion. Foreign funds bought P3.3 billion worth of shares compared to selling of P2.78 billion. Most active shares were led by Ayala Land Inc, up2.44 percent to P39.90 and PLDT, which gained 6.38 percent to P1,718. DMS