Stocks rise; peso ends sideways

Stocks rise; peso ends sideways

MANILA – The Philippine Stock Exchange index (PSEi) ended Wednesday higher due to window dressing while the peso closed sideways against the greenback.

The main stock index rose by 0.39 percent, or 22.63 points, to 5,864.23 points.

All Shares followed with a 0.22-percent rise, or 7.75 points, to 3,528.85 points.

Most of the sectoral gauges also finished with gains, led by the Property which rose by 1.58 percent.

Mining and Oil increased by 0.61 percent; Holding Firms, 0.52 percent; and Services, 0.44 percent.

Financials declined by 0.73 percent and Industrial by 0.46 percent.

Volume totaled 1.07 billion shares amounting to PHP5.48 billion.

Losers led gainers at 98 to 91, while 49 shares were unchanged.

“Philippine shares ended the quarter on a positive note on window dressing and after digesting the first (US) Presidential debate,” said Luis Limlingan, Regina Capital Development Corporation head of sales.

He said investors are also on the lookout for the final decision on the proposed additional stimulus program in the US.

Meanwhile, the peso finished the trade at 48.495 from 48.5 a day ago.

It opened the day at 48.41, little changed from 48.45 Tuesday.

It traded between 48.5 and 48.38, resulting in an average of 48.422.

Volume totaled to USD726.57 million, higher than the USD536.21 million a day ago. (PNA)

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