Stocks up, peso surges to P50.16:$1

August 4, 2017

Stocks closed higher on Friday as the key index ended the week close to a psychological level.

But the peso continued to show strength as it finished at P50.16 against the US dollar, up 11 centavos from Thursday. It was the second straight week that the peso strengthened.

The Philippine Stock Exchange index gained 56.16 points to 7,932.82. In the broader market, there were 101 decliners, 93 gainers and 50 unchanged.

Volume reached 945 million worth P6.36 billion. Foreigners were net buyers, with purchases of P2.73 billion compared to selling of P 2.71 billion.

Most active shares were led by Energy Development Corp., up 15.97 percent to P6.90 and Ayala Land, up 0.12 percent to P41.90. DMS