Stocks, peso gain after Fitch rating upgrade

December 11, 2017

Stocks gained on Monday after Fitch Ratings upgraded the country's credit ratings  as the Philippine Stock Exchange index rose 53.87 points to 8,358.57.

In the broader market, there were 114 gainers, 82 decliners and 42 unchanged. Volume reached 923.34 million shares valued at P5.85 billion.

Foreign buying and selling were the same as P2.8 billion worth of shares were bought and sold.

Most active shares were led by Ayala Corp., up 0.97 percent to P1,040, SM Investment Corp., up 1.68 percent to P997 and Banco de Oro., up 3.38 percent to P153.

The peso benefited from Fitch's ratings upgrade, finishing at P50.36 against the US dollar from P50.50 on Friday. Volume at the Philippine Dealing System reached $509 million from $703.10 million. DMS