MANILA – The local stocks ended the week positively and the peso strengthened against the US dollar amid global growth concerns.

The composite index inched up by 0.30 percent, or 16.25 points, to 5,369.72 points from Thursday’s 5,353.47 level.

Also, the broader all shares index increased by 0.34 percent, or 12.27 points, to 3,567.91 points from the previous day’s 3,555.64 points.

Most of the sectoral indices registered gains, led by the mining and oil with 1.47 percent, or 290.37 points hike to 20,058.72 points from day-ago’s 19,768.35 points.

The other gainers are the services, property, financials and industrial.

On the other hand, the holding firms index fell by 0.08 percent, or 3.56 points, to 4,579.68 points from day-ago’s 4,583.24 firms.

Trading was heavy at 12.48 billion shares, with value turnover surging to P27.49 billion, boosted by the special block sale by several companies, notably the sale of DBS Bank Ltd’s shares in BPI to Ayala Corp.

The most active stocks were led by SMIC, PLDT, Alcorn Gold Resources, SM Prime, Ayala Corp., Aboitiz Power, Bloomberry Resorts, Philex Mining, Metrobank, and Puregold.

Similarly, the peso gained P0.14 against the US dollar after capping the day at 41.43 from Thursday’s 41.57.

It opened the day at 41.48 and traded between 41.42 and 41.52, resulting in an average of 41.47 for the unit.

Volume of trade amounted to $979.72 million.*PNA

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