Peso keeps ground vs USD, PSEi down

MANILA — The Philippine peso closed Monday firm against the greenback but the main equities gauge finished in the red.

The local currency ended the week’s first trading day at 50.71 from 50.725 Friday last week.

It started the day better at 50.58 from 50.97 in the previous session.

It traded between its closing level and 50.55, bringing the day’s average to 50.620.

Volume of trade reached USD 788.7 million, lower than the USD 973.8 million at the end of last week.

On the other hand, the Philippine Stock Exchange index (PSEi) retreated for the second consecutive trading day and ended Monday at 8,244.73 points, down 0.44 percent or 36.54 points

Last week, it posted its record-high levels on high optimism among investors.

Most of the other indices tracked the main gauge with the broader All Shares down by 0.32 percent, or 15.74 points, to 4,862.65 points.

Sectors that finished on the same tone are Industrial, Services, Property, and Financials, which dropped 1.94 percent, 1.13 percent, 1.04 percent, and 0.36 percent, respectively.

On the other hand, Holding Firms rose by 0.74 percent and Mining and Oil by 0.50 percent.

Volume for the day reached 1.59 billion shares amounting to PHP6.76 billion.

Losers led gainers at 156 to 65 while 36 shares were unchanged.  Joann Villanueva/