Local shares rose on the last trading day of the week while the peso returned to the 56 to a dollar level.
The Philippine Stock Exchange index (PSEi) went up by 0.22 percent to 6,395.59 while All Shares also increased by 0.24 percent to 3,785.31.
Among the sectoral indices, Mining and Oil recorded the biggest gain at 4.32 percent.
Holding Firms and Services meanwhile, declined by 0.48 percent and 0.41 percent.
“Philippine stocks edged higher as fresh data from the US pointed to a more resilient economy. The May producer price index rose just 0.1 percent, softer than expected, reinforcing hopes that inflationary pressures are easing,” Regina Capital Development Corp. head of sales Luis Limlingan said.
Advancers led decliners at 108 to 92.
Meanwhile, the peso weakened, closing at 56.21 to a dollar on Friday from the 55.88 finish the previous trading day.
It opened at 55.8 and traded between 55.75 to 56.23.
The weighted average of the day settled at 55.99.
The volume of trade reached USD1.71 billion.*PNA
