Stocks, peso sustain rise

Stocks, peso sustain rise

MANILA – Risk-on sentiments lifted the main equities index to the 6,000-level Thursday while the peso further improved against the US dollar.

The Philippine Stock Exchange index (PSEi) rose by 1.71 percent, or 102.78 points, to 6,097.78 points.

All Shares increased by 1.12 percent, or 39.76 points, to 3,591.74 points.

Most of the sectoral indices tracked the main index, led by the Financials, which posted an uptick of 2.61 percent.

The Property counter rose by 2.05 percent, Holding Firms, 1.98 percent; Mining and Oil, 1.16 percent; and Industrial, 0.35 percent.

Only the Services shed during the day after it fell by 0.24 percent.

Volume totaled to 1.35 billion shares amounting to PHP17.15 billion.

Gainers led losers at 110 to 73, while 57 shares were unchanged.

Luis Limlingan, Regina Capital Development Corporation head of sales, said the main equities index rallied past the 6,000-level despite the bogging down of talks for the US’ second stimulus package.

He said US stocks rose although volume and volatility fell to its lowest this month “as investors struggled to find (a) new catalyst to push the market higher.

Meanwhile, the peso closed the day at 48.84 to a greenback, better than its 48.94 close a day ago.

It opened the day at 48.9, sideways compared to its 48.925 start in the previous session.

It traded between 48.93 and 48.84, resulting in an average of 48.89.

Volume reached USD632.1 million, lower than the previous day’s USD795.92 million. (PNA)

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