MANILA – Positive earnings reports by listed firms here and overseas boosted the Philippines’ main stocks index to the 6,8000-level on Monday and the peso mirrored it.
The Philippine Stock Exchange index (PSEi) rose by 1.43 percent, or 96.18 points, to 6,822.32 points.
All Shares followed with a jump of 1.03 percent, or 36.94 points, to 3,633.07 points.
Most of the sectoral indices also gained during the day namely Holding Firms, 2.51 percent; Mining and Oil, 2.09 percent; Financials, 1.95 percent; Property, 1.08 percent; and Industrial, 0.18 percent.
Only the Services index finished the day on the red after it slipped by 0.05 percent.
Volume was thin at 890.17 million shares amounting to PHP7 billion.
Advancers surpassed decliners at 114 to 76 while 51 shares were unchanged.
“Philippine shares climbed past the 6,800 mark after a string of more upbeat corporate results locally and globally offset fears of a steep economic slide,” Luis Limlingan, Regina Capital Development Corporation (RCDC) head of sales, said.
Among the factors seen to contribute to investors’ sentiment during the week include the May 2022 Purchasing Managers Index for the Philippines and the US, US’ consumer confidence index, and non-farm payrolls.
Relatively, the local currency improved to 52.31 against the greenback from its 52.32 close Friday last week.
It opened the day at 52.2, an improvement from its 52.33 start in the previous session.
It traded between 52.16 and 52.33, bringing the day’s average to 52.243.
Volume of trade rose to USD1.2 billion from USD1.06 billion at the end of last week. (PNA)
