Stocks gain, peso at P53.285:$1

July 27, 2018

The Philippine Stock Exchange index rallied to close higher on Friday, pushing it past the 7,700 level.

The peso ended strongly at P53.285 against the US dollar from P53.435 on Thursday. Volume rose at $794.8 million from $625.4 million on the previous day.

The index finished 35.53 points higher to end at 7,701.38. In the broader market, there are 89 decliners. 86 gainers and 50 shares unchanged.

Volume reached 1.26 billion valued P6.2 billion from Thursday's 697.2 million valued at P6.7 billion. Foreigners were net buyers for the second day, with P3.44 billion worth of shares bought while selling P3.07 billion.

Most active stocks were led by Jollibee, up 3.83 percent to P266; SM Prime, up 1.47 percent to P38.05 and BPI, up 1.51 percent to P101. DMS