PSE index back to 7,000-pt level; peso at P53.47:$1

June 26, 2018

The Philippine Stock Exchange index closed higher to climb back to the 7,000-point level on Tuesday, but the broader market showed a decline.

The index closed at 7,007.2, up 20.33. In the broader market, there were 127 declines, 78 gainers and 41 shares unchanged.

The peso slid to P53.50 against the US dollar but recovered to cut its losses and end at P53.47. On Monday, the peso finished at P53.44. Volume rose to $748.82 from Monday's $449.20 million.

Volume reached 707 million shares worth P5.9 billion from Monday's 715.57 million valued at P6.12 billion. Foreigners were net buyers for the first time in weeks, as purchases reached P3.09 billion while selling amounted to P3.04 billion.

Most active shares were led by BDO, down 0.80 percent to P124; Ayala Land, up 0.83 percent to P36.60 and SM Investment Corp.,down 0.95 percent to P837. DMS