Shares, peso bounce back

  • Page Views 1183
  • Local shares wiped out Monday’s losses yesterday amid developments abroad while the peso closed slightly stronger.

    The Philippine Stock Exchange index jumped by 1.4 percent or 102.87 points to 7,451.08.

    “Philippine shares staged a rally with the Brexit vote postponed and US stocks recovering from an early rout,” Luis Limlingan of Regina Capital said.

    The broader all shares index was up 37.59 points to 4,478.73, or a 0.85 percent increase.

    Gainers edged losers 106 to 75 with 53 stocks unchanged.

    Trading turnover reached P4.72 billion.

    Counters were mixed, with four ending in the green and two ended in negative territory.

    Holding firms led those in the positive closing 1.96 percent higher, while services suffered the biggest loss with 0.47 percent decline.

    “So far, the PSEi is still trading within our uptrend range as the major support is still far below at 7,117, -4.5 percent away from the last close. We notice that volume turnover has been at a decline since the beginning of December, more than halving from P10 billion to just P4.4 billion presently. As we approach the holidays, we may be seeing more funds turn coy and expect weak trading activity moving forward, “ Arbee Lu of Papa Securities said.

    The peso opened slightly weaker at 52.83 to the dollar after the trade data was released, compared the 52.80 close the previous day. The currency closed at 52.77.

    The peso hit a high of 52.76 and a low of 52.91. Trading volume amounted to $906 million.

    (Malaya)

    Share

    New Posts Recently publish post More

    • 24 September 2021
      13 hours ago No comment

      FEU unveils Sports Hall of Fame room featuring Olympians, UAAP champions

      With its long list of great athletes, Far Eastern University has all the reasons to dedicate a place honoring its alumni who have brought pride and glory to the school in different sporting events locally and internationally. On Tuesday, FEU virtually unveiled its Sports Hall of Fame room which ...

    • 24 September 2021
      15 hours ago No comment

      FCPA Celebrates Election of the First Filipina MP in Canadian History

      TORONTO – Today, the Filipino Canadian Political Association (FCPA) congratulates Rechie Valdez on her historic victory, becoming the first Filipina-Canadian MP and the first person of Filipino heritage to serve as MP from Ontario. She will represent the riding of Mississauga–Streetsville as a member of the Liberal caucus. “Rechie ...

    • 24 September 2021
      17 hours ago No comment

      3 Steps to getting your BC Vaccine Card

      Related

    • 23 September 2021
      2 days ago No comment

      Trudeau wins election but no majority government

      Justin Trudeau and his federal Liberal Party won their third election on September 20. However, the victory did not come with a majority government that Trudeau wanted. Trudeau and his Liberals will return to Ottawa with the mandate of a minority government. Trudeau delivered his speech shortly before 1:30 ...

    • 23 September 2021
      2 days ago No comment

      Ate Vi backs Isko for next PH president

      Manila Mayor Franciso “Isko Moreno” Domagoso has joined the race to become the next president of the Philippines. Domagoso declared his plan to run for president Wednesday (September 22), and immediately drew star support from actress and congresswoman Vilma Santos-Recto. Santos-Recto, popularly known as Ate Vi, is currently Deputy ...

    %d bloggers like this: