Stocks give back gains, peso hits P51.77

February 12, 2018

Stocks gave back its early gains while the peso skidded to a near three-month low against the US dollar before recovering on Monday.

The Philippine Stock Exchange index closed 15.78 points lower to 8,487.91 points after rising to nearly 51 points in early trading. In the broader market, there were 118 decliners, 94 gainers and 36 shares unchanged.

The peso hit a low of P51.775 against the US dollar before closing at P51.770 from P51.48 on Friday. Volume at the Philippine Dealing System reached $930.60 million from $1.169 billion on Friday.

Volume reached 2.39 billion shares worth P5.86 billion from Friday's 1.357 billion shares valued at P8.62 billion.

Foreigners were net sellers for the 12th session, selling P3.272 billion while buying P2.003 billion.

Most traded shares were led by Wilcon Home Depot, up 3.17 percent to P11.08; Ayala Land, down 0.51 percent to P43.55; Now Corp., up 9.72 percent to P7.90 and San Miguel Corp., up 4.28 percent to P656. DMS