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PSEi up on earnings reports; peso ends sideways

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The local stock market posted gains during the first trading of the month while local currency finished sideways.

The Philippine Stock Exchange index (PSEi) closed yesterday increasing by 47.61 points or 0.72 percent to 6,672.69.

All shares also improved by 14.16 points, or 0.40 percent, to 3,546.69.

“Philippine shares got off to another great start as investors have been cheering the local earnings trickling along with placing bets on the April CPI (consumer price index) coming on Friday,” said Regina Capital Development Corp. head of sales Luis Limlingan.

On the other hand, Holding Firms, Property, and Financials were this day’s winners, with gains of 92.62 points, 25.24 points and 0.96 points, respectively.

Holding Firms ended the day at 6,498.41 level, Property at 2,760.73, and Financials at 1,919.09.

Losers were led by Mining and Oil, shedding by 50.66 points to 10,535.88; followed by Industrial, down by 24.08 points to 9,481.81; and Services, down by 1.73 points to 1,603.47.

Advancers surpassed decliners at 103 to 83, with 48 counters were unchanged.

Meanwhile, the peso finished at 55.34 to a United States dollar from 55.38 closing last week.

It opened at 55.48 and traded between 55.26 and 55.50, bringing this day’s average rate at 55.37.

Volume of trade decreased to USD1.06 billion from USD1.24 billion last week.*PNA

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