Stocks closed nearly one percent higher Friday, with the Philippine Stock Exchange gaining 66.42 points to 7, 345.02.

The mining sub-index ended the week with slight gains after several days of declines due to the confirmation hearings of Gina Lopez as secretary of the environment and natural resources department. Lopez was deemed bypassed by the Commission on Appointments.

The mining sub-index rose 0.64 percent to 12, 005.06 points.

In the broad market, there were 103 advances, 79 declines and 58 unchanged.

Volume reached 1.9 billion shares valued at P14 billion from Thursday’s 2.01 billion shares valued at P6.14 billion. Foreign buying amounted to P10,14 billion while foreign selling was P9.97 billion.

Among gainers were Easycall Communications, which ended 32.42 percent to P3.88 and Manila Jockey Club, up 8.56 percent to P2.41.

The peso lost six centavos to end at P50.18 against the US dollar but it ended the week firmly above the P50.40 level at the start of the week. Volume was $444.2 million from Thursday’s $467.50 million at the Philippine Dealing System. DMS