Stocks up, peso ends Wednesday sideways vs USD

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MANILA — The Philippine Stock Exchange index (PSEi) sustained its gains Wednesday and the peso closed sideways to a US dollar.

The main stock index rose by 0.61 percent or 41.61 points to 6,834.68 points.

Only the industrial index ended the day on the red with 0.12 percent or 12.99 points drop to 10,386.36 points.

A trader said investors remain bullish because of brighter prospects on global recovery on positive manufacturing reports in major economies.

This resulted to a good turn-out during the trading with volume reaching 1.09 billion amounting to P9.79 billion.

Gainers led losers at 11 to 79 while 37 stocks were unchanged.

Relatively, the peso ended the trade sideways to a dollar at P43.91 from P43.86 a day ago.

It opened the day at P43.93, weaker compared to the P43.83 a day ago.

It’s strongest for the day stood at P43.89 while weakest was at P43.95.

This brought the day’s average to P43.92, also sideways from the P43.86 in the previous trading.

Volume of trade reached US$ 591.1 million, lower compared to the US$ 642.4 million a day ago.

For Thursday, the peso is expected to trade between P43.70 and P43.90.