MANILA – Both local stocks and the peso benefited from the announcement of the latest bond-buying program of the European Central Bank.

The composite index rose by 0.99 percent, or 51.21 points, to 5,201.32 points on Friday from Thursday’s 5,150.11 level.

Also, the broader all shares index went up by 0.76 percent, or 25.93 points, to 3,454.83 points from the previous day’s 3,428.9 points.

Only the mining and oil index ended the day on the red at 20,713.88 points, down by 1.91 percent, or 404.10 points, from the previous day’s 21,117.98 level.

Value of trade reached P5.2 billion after 1.77 billion shares changed hands.

Gainers led losers at 104 to 51 while 43 stocks were unchanged.

Similarly, the local currency gained P 0.19 against the dollar after ending the trade at 41.68 from Thursday’s 41.87 close.

It started the day at 41.75, way better than the previous day’s 41.92 opening level.

It traded between 41.66 and 41.79 resulting to an average of 41.74 for the local unit.

Volume of trade reached $883.46 million.

ECB President Mario Draghi announced Thursday the central bank’s latest bond-buying program dubbed Outright Monetary Transactions.

OMT is an unlimited buying program on ailing European government’s one to three-year securities that are traded in the secondary market. It is targeted to help European economies that are deeply suffering from the on-going debt crisis;

Approval of the program was announced by Draghi after the central bank’s Governing Council’s meeting Thursday.*PNA

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