Peso flat as stocks up on signs of spurring economic activity

This post was originally published on this site

MANILA – The Philippine Stock Exchange index (PSEi) closed the first trading day of the week higher on positive investors’ sentiment while the peso ended almost unchanged against the US dollar. 

After a three-day slide, the main equities index recovered on Monday and inched up by 0.18 percent, or 11.31 points, to 6,389.38 points. 

All Shares rose by 0.08 percent, or 3.09 points, to 3,930.28 points. 

Most of the sectoral gauges also gained during the day namely Mining and Oil, 3.80 percent; Financials, 1.13 percent; Property, 0.29 percent; and Services, 0.01 percent.

On the other hand, Industrial fell by 0.17 percent and Holding Firms by 0.11 percent. 

Volume totaled 4.51 billion shares amounting to PHP5.42 billion. 

Losers led gainers at 116 to 87, while 42 shares were unchanged. 

“Philippine shares shook off early weakness to end higher, supported by data indicating acceleration in worldwide economic activity and even faster growth in new home sales,” said Luis Limlingan, Regina Capital Development Corporation head of sales. 

Meanwhile, the peso was little changed against the greenback after it ended the day at 48.39 from 48.381 last Friday. 

It opened the day at 48.32 and traded between 48.42 and 48.31. 

Average level for the day stood at 48.347. 

Volume totaled USD514.68 million, lower than the previous session’s USD666.47 million. (PNA)

Related Posts