PESO STEADY AT P40/$, STOCKS UPBEAT
Manila, Feb. 21, 1998 - The stock market's positive outlook continued Thursday, influenced by the stable performance of the peso which closed at P40.00 to the dollar in the Philippine Dealing System.
The Philippine Stock Exchange Index rose by 38.70 points to 2,136.30, with gainers outnumbering losers 73 to 46.
Commercial/industrial sectors closed higher, as did the financials and properties. Mines and oils ended lower.
Two shipping shares went up dramatically. Negros Navigation was up 27.27% to P0.70 while Lorenzo Shipping jumped 22.67% to P0.92.
Reported by: Sol Jose Vanzi
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