Stocks rally to end higher

September 27, 2017

Stocks snapped a losing skein for three trading sessions on Wednesday as the Philippine Stock Exchange index advanced after a buying spree in the last hour of trading.

The index, down by as much as 51 points at noonday break, closed 51.78 points higher to end at 8,221.92.

In the broader market, there were 106 gainers, 103 decliners and 39 issues unchanged.

Volume rose to 1.65 billion shares worth P10.46 billion.

Among most active shares were Energy Development Corp., up 12.62 percent to P5,42 and PXP Energym up 6.88 percent to P8.22. Robinsons Retail Holdings, which replaced Energy Development Corp. as a part of the PSE index, declined 1,5 percent to P98.50.

The peso closed at P51.02 against the US dollar from P50.935. Volume at the Philippine Dealing System reached $675.70 million from $687.50 million on the previous day. DMS