PH shares rise, peso moves sideways vs. USD

PH shares rise, peso moves sideways vs. USD

MANILA – Philippines’ main stocks index rose to the 7,000-level Wednesday and the peso ended sideways against the US dollar due to sustained risk on sentiments on news about the Covid-19 candidate vaccines.

The Philippine Stock Exchange index (PSEi) rose 1.33 percent, or 92.64 points, to 7,051.78 points.

All Shares inched up by 1.002 percent, or 41.13 points, to 4,144.87 points.

Most of the sectoral indexes tracked the main gauge, led by the Holding Firms, which inched up by 1.94 percent.

It was followed by the Financials at 1.92 percent; Property, 0.92 percent; Services, 0.53 percent; and Industrial, 0.31 percent.

Only the Mining and Oil ended the day on the red after it fell 1.09 percent.

Volume reached 12.34 billion shares amounting to PHP10.94 billion.

Gainers led losers at 126 to 86 while 55 shares were unchanged.

Relatively, the peso ended the day’s trade at 48.22 to a greenback from 48.24 a day ago.

It opened the day at 48.28, sideways from 48.2 Tuesday.

It opened the day at 48.29 and traded between 48.22 and 48.29. Average level for the day stood at 48.265.

Volume totaled to USD635.8 million, lower than the USD705.82 million. (PNA)

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