Stock index loses steam but closes higher

January 7, 2019

Stocks gave up its early gains but the key index managed to finish higher on Monday.

The Philippine Stock Exchange index, which was up by as much as 130 points in early trading, finished 26.55 points higher to 7,787.66 points.

Volume reached 1.34 billion shares valued at P8.41 billion from Friday's 1.96 billion shares worth P9.04 billion.

Most active shares were led by Ayala Corp., up 3.96 percent to P998; Puregold Price Club, up 3.92 percent to P49.05 and Jollibee, up 4.53 percent to P323.

The peso gained 13 centavos to end at P52.38 against the US dollar. Volume at the foreign exchange portal of the Bankers Association of the Philippines amounted to $822.45 million from Friday's $684.95 million. DMS