The local stock market and currency closed stronger on the last trading day of the week.
The Philippine Stock Exchange (PSEi) gained 1.08 percent to 6,458.20 while All Shares also rose 0.60 percent to 3,762.85.
Except for Mining and Oil, which declined by 1.55 percent, all Sectors closed in the green, led by Holding Firms, which went up by 2.75 percent.
“Philippine shares rose following President Donald Trump’s unveiling of a trade deal framework with the UK (United Kingdom), the first significant agreement since the U.S. imposed preemptive tariffs,” Regina Capital Development Corp. head of sales Luis Limlingan said.
“The deal, which includes a 10% baseline tariff, also signaled the possibility of higher tariffs for other nations with large trade surpluses.”
Advancers led decliners at 105 to 84, leaving 56 counters unchanged.
Meanwhile, the peso closed stronger at 55.51 to a dollar from its 55.625 finish on Thursday.
It opened at 55.7 and traded between 55.395 to 55.82, bringing the day’s weighted average to 55.625.
Volume of trade slightly declined to USD1.64 billion from USD1.70 billion.*PNA
