Stocks gauge, peso slip on rising Covid-19 cases

Stocks gauge, peso slip on rising Covid-19 cases

MANILA – The Philippine Stock Exchange index (PSEi) declined anew on the rising coronavirus disease 2019 (Covid-19) cases around the world while the peso was not spared.

The main equities index shed 0.94 percent, or 61.03 points, to 6,439.39 points.

It was followed by most counters, with the All Shares down by 0.61 percent, or 24.49 points, to 3,964.34 points.

Property index registered the highest decline among the sectoral gauges after fell by 2.10 percent and was trailed by the Holding Firms, 1.02 percent;

Mining and Oil, 0.75 percent; Financials, 0.63 percent; and Industrial, 0.16 percent.

Only the Services index gained during the day after it rose by 0.85 percent.

Volume totaled 3.5 billion shares amounting to PHP5.37 billion.

Gainers led losers at 108 to 92, while 52 shares were unchanged.

“Philippine shares slipped anew as regional Covid-19 cases continue to pile up around the world. Another round of better-than-expected earnings did little to push benchmarks up,” said Luis Limlingan, Regina Capital Development Corporation head of sales.

Meanwhile, the peso ended the day at 48.45 from 48.32 a day ago.

It opened the day flat at 48.33 and traded between 48.455 and 48.33.

Average level for the day stood at 48.388.

Volume reached USD797.4 million, higher than the previous session’s USD684.6 million. (PNA)

Leave a Reply