Stocks, peso up

December 13, 2018

Stocks and the peso gained on Thursday ahead of the central bank's monetary setting board's decision whether to raise policy rates. The central bank decided to keep the reverse repurchase at 4.75 percent later in the day.

The Philippine Stock Exchange (PSE) index finished at 7, 522.92, up 34.68. In the broader market, there were 109 gainers, 80 decliners and 46 shares unchanged.

The peso ended at P52.62 against the US dollar from P52.715 on Wednesday. Volume at the foreign exchange portal of the Bankers Association of the Philippines reached $697.65 million from $765.15 million.

Volume at the PSE amounted to 2.70 billion worth P6.09 billion from Wednesday's 990.03 million shares valued at P11.90.

Most traded shares were led by Ayala Land, up 1.32 percent to P42.35; BDO, up 3% to P130.50 and SM Prime, down 2.52 percent to P34.80. DMS