Peso, share prices start week with gains

By , on November 21, 2017


Suspected terrorist attack at the concert of US pop singer Ariana Grande in Manchester, England Monday night increased risk-off sentiment among investors that resulted in the sideways close of the Philippine peso, but the main stocks index managed to post gains.  (Photo: Cheng Ilagan/Philippine Canadian Inquirer)
The local currency finished the week’s first trading day up by 16 centavos to 50.79 against the US dollar from 50.95 close Friday last week. (Photo: Cheng Ilagan/Philippine Canadian Inquirer)

MANILA – – Both the Philippine peso and the Philippine Stock Exchange index (PSEi)  displayed a stiff stance on Monday.

The local currency finished the week’s first trading day up by 16 centavos to 50.79  against the US dollar from 50.95 close Friday last week.

This improvement did not show when the currency trading opened for the day since the local unit started the trade at 50.88 from 50.80 in the previous session.

The peso ranged between its closing level and 51.03, resulting in an average of 50.94.

Volume for the day amounted to USD577.10 million, lower than the USD719.6 million in the previous auction.

PSEi gained 0.13 percent, or 10.90 points, to 8,321.98 points.

It was, however, a mix among the other indices, with the broader All Shares ending on the red after it declined by 0.04 percent, or 2.07 points, to 4,871.75 points.

The sectors that also dropped during the day include the Services, 0.81 percent; Industrial, 0.52 percent; and Property, 0.03 percent.

On the other hand, Financials, Holding Firms, and Mining and Oil rose 0.74 percent, 0.18 percent, and 0.01 percent, respectively.

Volume during the day reached 3.65 billion shares amounting to PHP5.6 billion.

Losers led gainers at 122 to 80 while 42 shares were unchanged.