Peso ends sideways, equities index slips

Peso ends sideways, equities index slips

MANILA – The peso ended Monday sideways against the US dollar but the main equities index finished on the red ahead of the Bangko Sentral ng Pilipinas’ (BSP) rate meeting.

The Philippine Stock Exchange index (PSEi) shed 0.13 percent, or 8.13 points, to 6,068.78 points.

All Shares followed with a drop of 0.05 percent, or 1.85 points, to 3,594.34 points.

Most of the sectoral indices also finished the day down, led by the Industrial, which fell 0.90 percent.

It was trailed by the Financials, 0.88 percent; Services, 0.54 percent; and Mining and Oil, 0.43 percent.

Property counter rose by 0.49 percent and Holding Firms by 0.23 percent.

Volume totaled to 3.07 billion shares amounting to PHP5.76 billion.

Losers surpassed gainers at 104 to 73, while 62 shares were unchanged.

Luis Limlingan, Regina Capital Development Corporation head of sales, said investors are on a wait-and-see stance for the July 2020 balance of payments (BOP) position report this week and the rate decision of the central bank’s policy-making Monetary Board (MB) on Thursday.

Other major factors for the week include the Philadelphia Fed manufacturing index, the minutes of the July Federal Open Market Committee (FOMC) meeting minutes, the August 2020 flash Purchasing Managers Index (PMI) from across Europe, and the publication of the account of the European Central Bank (ECB) monetary policy meeting last July.

The local currency finished the day at 48.71 from 48.765 Friday last week.

It opened the day at 48.7, better than its 48.83 start in the previous session.

It traded between 48.665 and 48.72, resulting in an average of 48.687.

Volume totaled to USD423.3 million, lower than the previous session’s USD599.65 million. (PNA)

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