Stocks up, but peso ends at P53.50:$1

July 11, 2018

Stocks rose but the Philippine peso ended close to a 12-year-low after opening at P.53.54 against the US dollar before ending four centavos higher. The Philippine Stock Exchange (PSE) index closed 100.44 points higher to 7,333.73. In the broader market, there were 101 gainers, 91 decliners and 41 unchanged. The peso closed at P53.50, down from Tuesday's P54.36. Volume reached $355.9 million from the previous day's $616.4 million. Volume rose to 852.3 million shares valued at P5.16 billion from Tuesday's 697 million shares worth P5.06 billion. Foreigners were net sellers at P85.693 million, Most traded shares were led by Ayala Land, up 2.05 percent to P37.30; BPI, up 3.41 percent to P94.10 and PLDT, up 2.8 percent to P1360. DMS