Stocks start June trading on high note

June 1, 2018

Stocks began the first trading month of June higher as the main share index gained 1.78 percent.

The Philippine Stock Exchange index closed at 7,630.26, up 133.09. In the broader market, there were 101 gainers, 89 decliners and 46 shares unchanged.

Volume reached 625.15 million shares worth P5.56 billion from Thursday's 820.1 million valued at P17.2 billion. Foreigners remained net sellers, with P3.18 billion sold while P2.87 billion shares were bought.

Most traded shares were led by SM Investment Corp., up 4.4 percent to P906.50; Jollibee Corp.,up 3.58 percent to P283.80 and Metrobank, up 0.57 percent to P79.85.

The peso slipped to P52.635 against the US dollar but rallied to end at P52.55 from Thursday's P52.60.

Volume at the Bankers Association of the Philippines went down to $587.5 million from $886.8 million on Thursday. DMS