Stocks gain but peso weakens slightly

March 28, 2017

Stocks closed more one percent higher on Tuesday as the Philippine Composite Index finished 85.49 up to end at 7,331.46:

At the broader market, advances led declines 100-80, with 48 remaining unchanged. Volume reached 1.59 billion shares valued at P6.62 billion from Monday’s 1.02 billion shares valued at P7.77 billion.

Among gainers SM Investments Corp. accounted for a chunk of the turnover, with P287 million worth of trades as its price went up to 3.25 percent to P680.50 and the Lucio Tan Group fetched P215 million of turnover as its price rose 4.86 percent to P16.40.

The peso ended six centavos lower to P50.18 against the US dollar even as volume at the Philippine Dealing System fetched $393.40 million from Monday’s $497.2 million. DMS