Stock index recovers, peso improves to P54.13:$1

October 12, 2018

Philippine stocks recovered from a big two-day slide as the key index finished above the 7,000-point mark on Friday.

The Philippine peso closed at P54.13 against the US dollar, five centavos higher than Thursday's finish. Volume at the Bankers Association of the Philippines reached $776.1 million from the previous day's $665 million.

The Philippine Stock Exchange index ended at 7,004.77 points, up 120.39. In the broader market, there were 127 gainers, 26 decliners and 47 shares unchanged.

Volume amounted to 636.86 million shares worth P5.28 billion from Thursday's 1.03 billion shares valued at P5,42 billion.

Most active shares were led by Ayala Land, up 2.08 percent to P39.30; SM Prime, up 1.48 percent to P34.20; Globe Telecom, down 2.23 percent to P2,100 and Now Telecom, up 28.67 percent to P5.61. DMS