PSE index up despite gov’t crafting new agreement for water firms

January 7, 2020

The main Philippine share index ended higher, even as the government announced it is preparing a new concession agreement with the two main water concessionares.

Manila Water Co. was the most active share, gaining P1.18 to end at P10.78. Metro Pacific Investment Corp., the majority owner of Maynilad Water Services Inc., was the third highest, rising  14 centavos to end at P 3.63. 

The Philippine Stock Exchange ( PSE) index closed at 7,840.70, up 42.83. In the broader market, there were 94 gainers, 85 losers and 64 unchanged,

Volume reached 2.19 billion shares worth P6.49 billion for Monday's 664.04 milion valued at P4.1 billion.

The peso rose to P50.76 against the US dollar from Monday's P50.93. In the foreign exchange portal of the Bankers Association of the Philippines, volume reached $1.627 billion from $1.579 billion. DMS