MANILA – Philippine shares saw a slight uptick on Monday ahead of the upcoming release of February 2025 inflation data, while the peso remained stable.

The Philippine Stock Exchange Index (PSEi) gained 0.65%, closing at 6,037.19, while the All Shares index rose by 0.89% to 3,620.12.

“Philippine stocks posted modest gains, reflecting the sentiment in regional markets, particularly after the conclusion of the quarterly MSCI rebalancing last week,” said Luis Limlingan, head of sales at Regina Capital Development Corp.

He also noted that key US economic data this week includes February’s jobs report, due Friday, which may indicate weaker hiring and potential job cuts in the public sector, according to the PMI (Purchasing Managers Index).

“Domestically, the focus is on the CPI (Consumer Price Index) release on March 5, alongside other key data points including the S&P Global Manufacturing PMI (March 3), PPI (March 4), Unemployment Rate (March 6), and GIR level (March 7),” Limlingan added.

Except for the Industrial and Services sectors, all other sectors ended in the green, with Holding Firms leading the way, up by 2.90%.

Overall, market losers outnumbered gainers, 120 to 75.

Meanwhile, the peso closed at 57.90 to the dollar on Monday, slightly down from Friday’s 57.99. The peso opened at 57.98, fluctuating between 57.88 and 57.98, with a weighted average of 57.92.

Trading volume dropped to USD 1.06 billion from USD 1.19 billion in the previous session.

IA/MNM

MANILA — The Philippine Stock Exchange index (PSEi) dropped sharply on Monday (10 Feb 2025) following U.S. President Donald Trump’s threat to impose new tariffs on all steel and aluminum imports. The PSEi fell 1.91% to 6,037.12, while the All Shares index also dropped by 1.27%, closing at 3,617.27.

The Mining and Oil sector was the only one to post a gain, rising by 0.90% to 7,430.20. In contrast, the Property and Financials sectors suffered the most significant losses, down 2.43% and 2.42%, respectively. The Services, Holding Firms, and Industrial sectors also experienced declines of 1.61%, 1.56%, and 0.40%.

Philstock Financials research manager Japhet Tantiangco explained that Trump’s continued tariff threats could negatively impact the global economy, particularly with the possibility of new steel and aluminum tariffs and reciprocal measures with other countries.

Market losers outnumbered gainers at 111 to 78, with 44 stocks remaining unchanged.

The Philippine peso closed flat at 58.10 to the U.S. dollar, slightly up from last week’s 58.03. It traded within a narrow range of 58.06 to 58.18 throughout the day, with an average of 58.12.

Trading volume decreased to USD1.2 billion from USD1.28 billion in the previous session.

ia/mnm

MANILA — Motorists will face an uptick in costs for diesel and kerosene starting this Tuesday (28 Nov 2023), signaling a reversal after four consecutive weeks of price cuts. However, gasoline prices will remain unchanged.

In separate announcements, Chevron Philippines Inc. (Caltex), Pilipinas Shell Petroleum Corp., and Seaoil Philippines Corp. disclosed that they will implement a price increase of P0.30 per liter for diesel and P0.65 per liter for kerosene.

Cleanfuel, while following suit with similar adjustments, will exclude kerosene from its pricing modifications as it does not carry this particular fuel.

These changes are scheduled to take effect at 6 a.m. on Tuesday, November 28, for all companies, except for Caltex, which will adjust prices at 12:01 a.m., and Cleanfuel at 4:01 p.m. on the same day.

The decision to raise prices aligns with forecasts made by the Department of Energy’s (DOE) Oil Industry Management Bureau (OIMB) last week. The DOE cited supply cuts in the production of the Organization of the Petroleum Exporting Countries and their partners as a contributing factor.

In the preceding week, fuel prices experienced a rollback, with gasoline, diesel, and kerosene seeing decreases of P0.75, P0.65, and P0.60 per liter, respectively.

The most recent data from the DOE reveals that year-to-date net increases, as of November 21, 2023, stand at P12.30 per liter for gasoline, P5.70 per liter for diesel, and P1.09 per liter for kerosene.

(Amadao Inigo/mnm)