The local stock market slipped on the last day of trading of the year, while the Philippine peso further strengthened.
The Philippine Stock Exchange index slid by 0.16 percent to 6,528.79, while All Shares improved by 0.45 percent to 3,748.51.
Sectors were mixed during Friday’s trading, with the winners including Mining and Oil, up by 3.98 percent to 7,829.66 points; Industrial, up by 1.64 percent to 9,308.15 points; and Holding Firms, up by 0.52 percent to 5,640.26 points.
The losers for the day were Financials, down by 1.42 percent to 2,157.54; Property, down by 0.48 percent to 2,377.23; and Services, down by 0.21 percent to 2,081.72.
“The PSEi ended 2024 lower, mirroring US market trends, as jobless claims fell to 219,000, below the 225,000 forecast, while continuing claims rose to 1.91 million, the highest since November 2021,” Regina Capital Development Corp. managing director Luis Limlingan said.
The winners outnumbered the losers at 138 to 82, with 44 counters left unchanged.
Meanwhile, the peso strengthened for four consecutive trading days as it finished Friday at 57.85 to the US dollar from a 57.97 close the previous day.
Though it opened weaker at 57.85 from Thursday’s 58.35 kick-off, the currency pair traded between a low of 57.70 and a high of 57.89 to the dollar.
The average level for the day stood at 57.85 to the greenback.
Volume of trade declined to USD1.52 billion from USD1.76 billion.*PNA
