Stocks slightly higher despite high March inflation rate

April 5, 2018

Stocks ended higher on Thursday despite a high inflation figure of 4.3 percent for March.

The Philippine Stock Exchange index finished 24.49 points higher to 8,022.16. In the broader market, there were 103 decliners, 83 gainers and 55 shares unchanged.

Volume reached 4,05 billion shares valued at P5.85 billion from Wednesday's 1.67 billion shares worth P6.93 billion. Foreigners were net sellers with P3.00 billion while buying tallied P2.79 billion.

Most active shares were Leisure and Resorts World, down 10.29 percent to P6.19; Bloomberry Resorts, down 4.82 percent to P13.04; Ayala Corp., down 0.98 percent to P906.

The peso closed at P52.115 against the US dollar from Wednesday's P52.12. Volume at the Bankers Association of the Philippines reached $483 million from $504.4 million on the previous day. DMS