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Stocks, peso rise on US FDA’s full approval to Pfizer vax

By Joann Villanueva

August 25, 2021, 6:02 pm

MANILA – The Philippine Stock Exchange index (PSEi) and the peso ended Wednesday on positive territory on news that Pfizer-BioNTech received regulatory approval from the US Food and Drug Administration (FDA) for their coronavirus disease 2019 (Covid-19) vaccine. 
 
The main equities index rose by 2.15 percent, or 143.33 points, to 6,822.15 points.
 
All Shares followed, increasing by 1.29 percent, or 53.63 points, to 4,198.51 points.
 
Most of the sectoral gauges also gained during the day, led by the Services index with an increase of 3.51 percent. 
 
The Property index followed with a hike of 2.41 percent as well as Holding Firms, 2.37 percent; Industrial, 0.59 percent; and Financials, 0.25 percent. 
 
Only the Mining and Oil index shed after it slipped by 0.12 percent. 
 
Volume totaled 1.8 billion shares amounting to PHP6.5 billion.
 
Advancers led decliners at 95 to 93, while 51 shares were unchanged. 
 
“Investors continued to buy Philippine shares, feed (by) news that Pfizer and BioNTech secured a full US regulatory approval for Covid-19 vaccine,” said Luis Limlingan, Regina Capital Development Corporation head of sales. 
 
Limlingan said this factor “is still fueling the US benchmarks”, with the Dow Jones up by 0.09 percent and the S&P 500 by 0.15 percent after Tuesday’s trading. 
 
Gains of the PSEi was mirrored by the local currency after it ended the day at 49.85 from its 50.116 close a day ago.
 
It opened the day at 50.08 and traded between 50.17 and 49.85. 
 
Average level for the day stood at 50.074. 
 
Volume rose to USD1.06 billion from Tuesday’s USD967 million. (PNA)
 
 

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