Stocks, peso higher on inflation news

May 7, 2019

The Philippine Stock Exchange index rose higher on Tuesday after the government reported that inflation for April was the lowest in more than a year.

The peso settled at P51.865 against the US dollar from Monday's P51.925. Volume at the foreign exchange portal of the Bankers Association of the Philippines reached $966.28 million from the previous session's $770.33 million.

The PSE index gained 48.33 points to end at 7,910.63.. In the broader market, there were 100 gainers, 56 decliners while 50 shares were unchanged.

Volume reached 513.19 million valued at P5.5 billion from 719.4 million worth P6.26 billion.

Most traded shares were led by Ayala Land, up 0.38 percent to P46.95; Globe, up 6.7 percent to P1990 and International Container and Terminal Services Inc., rose 6.56 percent to P136.40.  DMS