PH stocks index, peso end trade up

PH stocks index, peso end trade up

MANILA – The Philippine Stock Exchange index (PSEi) and the peso both gained Friday as optimism continues to reign over various markets.

The main equities index rose by 2.20 percent, or 139.43 points, to 6,484.06 points.

All Shares increased by 1.88 percent, or 71.20 points, 3,859.95 points.

Most of the sectoral indices also gained during the day, led by the Holding Firms with a jump of 3.25 percent.

Property went up by 1.99 percent, Industrial by 1.78 percent, Financials by 1.36 percent, and Mining and Oil by 0.15 percent.

Only the Services index ended the week in the red after it fell by 0.17 percent.

Volume totaled to 1.38 billion shares amounting to PHP8.5 billion.

Gainer surpassed losers at 129 to 81 while 48 shares were unchanged.

“Another value stock-led rally pushed PSEi solidly into the green to close the week as positive earnings reports and optimism about US stimulus offset concerns about rising virus cases,” Luis Limlingan, Regina Capital Development Corporation head of sales, said.

During the day, listed company Universal Robina Corporation (URC) reported a 12 percent year-on-year jump in net income as of end-September this year to PHP8.1 billion amidst the challenging business environment.

The optimism in the local bourse benefited the peso, which ended the day at 48.48 against the US dollar, up from its 48.6 close a day ago.

It opened the day at 48.64, sideways from its 48.55 start in the previous session.

It strengthened to 48.47 but also weakened to 48.675, resulting to an average of 48.587.

Volume totaled to USD889.6 million, higher than Thursday’s USD614.4 million. Joann Villanueva /PNA –