PSE index up after Jollibee leads gainers

July 26, 2019

The main Philippine share index gained on Friday, with Jollibee Foods Corp. leading gainers after the market poorly received a plan to buy into Coffee Bean and Tea Leaf.

The Philippine Stock Exchange index closed at 8,183.89 points, up 88.19. In the broader market, there were 91 gainers, 90 losers and 58 shares unchanged.

Jollibee gained P16 to end at P252. On Wednesday, Jollibee shares fell eight percent to P251 after it announced it was investing an initial $100 million to buy Coffee Bean and Tea Leaf for $ 350 million.

Other most active shares were Ayala Corp., up P3 to P983 and BDO, down P3.7o to P148.20.

Volume reached 1.23 billion shares valued at P5.9 billion from Thursday's  894.31 million shares worth P8.27 billion.

The peso closed at P51.055 against the US dollar from P51.11. Volume at the foreign exchange portal of the Bankers Association of the Philippines reached $859.34 million from $831.85 million on Thursday. DMS