Stocks, peso shrug off second quarter growth figures

August 6, 2020

Philippine markets shrugged a steep fall in second quarter growth figures on Thursday.

The Philippine Stock Exchange (PSE) index closed 69 points higher to 5,902.58.

The peso finished at P49.05 against the US dollar from Wednesday's P49.075.  Volume at the foreign exchange portal of the Bankers Association of the Philippines reached $587.1 million from the previous day's $699.71 million.

At the PSE, the broader market was mixed. There were 90 losers, 88 gainers and 46 unchanged.

Volume reached 7.27 billion shares worth P6.53 billion from Wednesday's 2.04 billion shares valued at P5.38 billion.

Most active shares were led by SM Investment Corp., up P8 to P878; BDO, unchanged at P91; PLDT, up P17 to P1,370 and BPI, unchanged at P65.50. DMS