Stocks rise but Peso dives to 11-year low

By Filane Mikee Cervantes

June 11, 2018, 6:52 pm

 MANILA — The Philippine peso hit a fresh 11-year low against the greenback, while local stocks charged in the opposite direction.

The local unit shed 25 centavos to close at 52.95 from last Friday's finish of 52.7, registering its weakest level since July 2006.

The Philippine Stock Exchange index (PSEi) climbed 0.40 percent, or 30.56 points, to 7,771.30 points.

The broader All Shares tracked the main index with a 0.31 percent increase, or 14.44 points, to close at 4,704.54 points.

Both Holding Firms and Mining and Oil registered the biggest gain with 1.24 percent each, followed by Industrial, 0.41 percent, and Services, 0.27 percent.

The Property counter, however, registered the highest loss with 0.92 percent, followed by Financials at 0.11 percent.

Advancers edged out decliners, 103 to 84, while 48 stocks remained unchanged as transactions reached 849 million shares amounting to PHP4 billion. (PNA)