Stocks surge, peso weakens

February 16, 2017

Stocks surged on Thursday after declining for two sessions as the main index finished 1.52 percent higher.

The Philippine Stock Exchange index closed 108.95 points higher to 7,283.25 as financials, holding firms and services shares led the way.

Advances led decliners 113-75, with 48 issues unchanged.

Volume reached 2.29 billion shares valued at P7.59 billion from Wednesday’s P2.57 billion worth P7.96 billion. Foreign buying was at P4.72 billion while foreign selling reached P4.21 billion.

The peso weakened to P49.97 from Wednesday’s P49.92 at the Philippine Dealing System. Volume rose to $376.50 million from $319.50 million. DMS