Stocks up, peso declines

July 10, 2019

Stocks rose but the peso declined against the US dollar on Wednesday.

The peso finished at P51.46, down 15 centavos from Tuesday. Volume at the foreign exchange portal of the Bankers Association of the Philippines reached $729.69 million from the previous day's $761.92 million.

The Philippine Stock Exchange ( PSE) Index closed at 8,078.21 points, up 36.21 points. In the broader market, there were 109 losers, 93 gainers and 39 unchanged.

Volume reached 2.38 billion shares worth P5.36 billion from Tuesday's 1.57 billion shares valued at P5.89 billion.

Cebu Air, which lost 38 percent of its value to P58 due to a reported traders' error, soared 50 percent at the start of trading to P87. It closed at P87.

Most active shares were Metrobank, up 10 centavos to P 71.50; Ayala Land, down 20 centavos to P51.25; SM Investment Corp., up P30 to P980 and Universal Robina Corp., down P1.00 to P175. DMS