PH stocks gauge rises; peso ends sideways vs. USD

The Philippine Stock Exchange index (PSEi) rose Thursday on hopes for new stimulus measures in the United States and the peso ended sideways against the US dollar.

The main equities gauge increased by 0.73 percent, or 51.77 points, to 7,154.43 points.

All Shares jumped by 0.42 percent, or 17.79 points, to 4,270.92 points.

It was a mix among the sectoral indexes with Property rising by 1.74 percent, Holding Firms by 0.76 percent, and Services by 0.51 percent.

On the other hand, Industrial declined by 0.48 percent, Financials by 0.25 percent, and Mining and Oil by 0.21 percent.

Volume totaled to 150.03 billion shares amounting to PHP7.64 billion.

Gainers led losers at 121 to 108 while 41 shares were unchanged.

Luis Limlingan, Regina Capital Development Corporation head of sales, also cited as among the factors on Thursday trading the almost unchanged prices of oil in the global market “with investors weighing an unexpected jump in US crude stockpiles against optimism that a fast rollout of a coronavirus vaccine would fuel a recovery in global oil demand.”

“Prices fell 1 percent earlier in the session as data showed US crude inventories rose by 15.2 million barrels to 503.2 million barres last week,” he said.

The price of Bent crude increased by eight cents to USD48.92 a barrel while US West Texas Intermediate slipped by eight cents to USD45.52 per barrel.

The peso ended the day at 48.065 to a greenback from 48.05 Wednesday.

It opened the day at 48.1 and traded between 48.1 and 48.05. The average level for the day stood at 48.067.

Volume totaled to USD498.1 million, lower than day-ago’s USD505.8 million.

Source: Philippines News agency

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