Peso slightly up vs. US dollar; stocks slip Monday

MANILA — The Philippine peso settled at 49.69 to a U.S. dollar on Monday, slightly better from Friday’s closing of 49.76.

The local currency started the day at 49.74 to a dollar from last week’s opening at 49.81.

Peso traded stronger, ranging from 49.67 to 49.77, bringing this day’s average level at 49.71 to a dollar.

The currency pair’s trade volume amounted to USD558 million.

On the other hand, Philippine Stock Exchange index (PSEi) regained the 7,700-level after slipping by 0.55 percent or 42.60 points.

The local bourse closed Monday’s trading at 7,772.93 points.

All Shares also decreased 0.35 percent, or 16.09 points to 4,632.17.

All sectors were in the red except for Holding Firms, which gained 0.38 percent or 30.05 points to 7,930.85.

Industrial counter had the biggest loss of 121.36 points to 10,992.40.

This was followed by Property, down by 49.84 points to 3,475.83; Mining and Oil, down by 30.53 points to 12,567.16; Services, down by 25.45 to 1,623.63; and Financials, down by 2.28 points to 1,924.21.

A total of 1.39 billion shares valued at Php 7.48 billion changed hands on Monday.

Decliners outpaced advancers , 112 to 85, with 50 left unchanged. Kris Crismundo/

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