Stocks higher ahead of  first quarter growth numbers

May 17, 2017

Stocks closed higher on Wednesday ahead of the announcement of first quarter economic growth. The Philippine Stock Exchange index closed 35.46 points to 7,826.53. But the broader market was lower with 98 decliners, 92 gainers and 48 unchanged. Volume reached 1.41 billion shares valued at P8.01 billion. Foreigners were net buyers, with purchases of P4.74 billion and selling of P4.28 billion. Most active shares were led by Universal Robina Corp, up 0.51 percent to P159.20, Ayala Land, down 0.77 percent to P38.60 and Metrobank up 1.14 percent to P89. The peso lost eight centavos to end at P49.76 against the US dollar. Volume reached $453 million from $701 million at the Philippine Dealing System. (DMS)