Stock index at new year high despite BPI glitch

June 7, 2017

Stocks rose with the key index finishing at its highest for the year despite a system glitch that affected the electronic operations of the Bank of the Philippine Islands on Thursday. The Philippine Stock Exchange index gained 49.20 points to a new year’s high of 8,002.32 points, surpassing the previous 8,001.38 last June 5. In the broader market, there were 120 gainers, 86 losers and 42 unchanged. Volume reached 2.89 billion shares worth P10.31 billion. Foreigners were net buyers with P5.09 billion compared to selling of P4.24 billion. BPI closed 1.23 percent higher to P106.60. Travellers International Hotel Group, the owners of Resorts World Manila, rose 0.33 percent to P3.05 even as a hearing by the House of Representatives on Wednesday uncovered alleged lax security measures. The peso gained five centavos to close at P49.51 against the US dollar. DMS