PSE index, peso up on third quarter growth

November 7, 2019

The main Philippine stock index gained on Thursday following announcement that the economy grew in the third quarter after two quarters of slower growth.

Gross domestic product reached 6.2 percent, surpassing six percent in the same period last year and 5.5 percent in the second quarter.

The peso finished at P50.481 against the US dollar  from P50.61 on Wednesday. Volume at the foreign exchange portal of the Bankers Association of the Philippines reached $1.150 billion from the previous session's $1.121 billion. 

The Philippine Stock Exchange ( PSE) index closed at 8,073.81 points, up 47.93 points. In the broader market, there were 93 gainers, 81 losers and 61 unchanged.

Volume reached 474.5 million shares worth P5.18 billion from Wednesday's 595.80 million shares valued at P5.89 billion.

Most active shares were led by SM Investment Corp., up P13 to P1070; Ayala Land, unchanged at P47, SM Prime, up P1.20 to P40 and Universal Robina Corp., down P4.50 to P150.50. DMS