Local shares and the peso closed stronger on the last trading day of the week, boosted by Fitch Rating’s recent affirmation of the country’s credit rating.
The Philippine Stock Exchange index (PSEi) rose 0.89 percent to 6,411.86, while All Shares also went up by 0.37 percent to 3,741.12.
Sectoral indices were mixed with Financials, Holding Firms, and Services closing in the green.
Industrial, Mining and Oil, and Property, on the other hand, declined by 0.37 percent, 2.73 percent, and 0.57 percent, respectively.
Decliners led advancers at 104 to 97, with 50 counters left unchanged.
“Philippine shares broke past the 6400 level as easing trade tensions and Fitch’s reaffirmation of the country’s BBB rating with a stable outlook lifted investor sentiment,” Regina Capital Development Corp. head of sales Luis Limlingan said.
The peso, meanwhile, closed stronger against the dollar at 55.57 on Friday from Wednesday’s 55.84 finish.
It opened at 55.9 and traded between 55.56 to 56, bringing the weighted average of the day at 55.75.
Volume of trade settled at USD2.1 billion.*PNA
