Stocks climbed on Monday following a few sessions of lackluster trading last week

February 6, 2017

The Philippine Stock Exchange index closed 67.70 points higher to 7,294. 40. All sub-indices were up, except mining which ended 33.56 points lower to 11,881.59 points.

Lepanto Consolidated, whose operations are to be suspended for six months after the Department of Environment and Natural Resources announced its mining audit last week, shed off 1.6 percent to end at 0.184. Benguet, whose operations is slated to be closed, ended at 1.60, unchanged from Friday..

Volume soared to 3.61 billion shares worth P8.22 billion from Friday’s 1.83 billion shares valued at 5.67 billion.

But foreign buying amounted to P4.96 billion compared to foreign selling of P5.33 billion. On Friday, foreign buying was P3.24 billion while foreign selling was at P3.18 billion.

The peso strengthened to P49.69 against the US dollar from P49.78 despite lower volume at the Philippine Dealing System. Transactions were at $365.90 million from Friday’s $560.90 million. DMS