Gasoline prices down

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Oil companies will adjust pump prices effective today.

In separate announcements, Chevron (Caltex), Cleanfuel, Flying V, Petro Gazz, Petron, Seaoil, and Shell will rollback gasoline prices by P0.10 per liter.

Chevron, Flying V, Petron, and Shell will increase the prices of their kerosene by P0.15 per liter.

There will be no movement in the prices of diesel.

The companies said the oil price adjustments reflect movements in the world market.

Meanwhile, risk-on sentiment boosted both the Philippine Stock Exchange index (PSEi) and the peso yesterday.

The main equities gauge rose by 1.02 percent, or 61.95 points, to 6,150.70 points.

All Shares jumped by 0.73 percent, or 26.08 points, to 3,605.68 points.

Most of the sectoral gauges also posted upticks during the day, led by the Property, which inched up by 2.08 percent.

Industrial counter increased by 1.21 percent, Holding Firms by 0.89 percent, and Services by 0.31 percent.

The Mining and Oil counter declined by 1.30 percent and Financials by 0.09 percent.

Volume totaled 2.27 billion shares, amounting to P3.1 billion.

Gainers led losers at 109 to 75, while 52 shares were unchanged.

Luis Limlingan, Regina Capital Development Corp. head of sales, attributed the general positive sentiment in the local bourse to the investors’ decision to consider reports about the mixed earnings report in the US, as well as the paring of losses from last week’s trading.

He said one of the factors for this week’s trading included the jobless claims reports from the US, which will be released on Thursday.

Meanwhile, the local currency ended the day at 49.375 from Friday’s 49.44 finish.

It opened the day at 49.45, an improvement from its 49.55 start in the previous session.

It traded between 49.46 and 49.375, resulting in an average of 49.415.

Volume totaled to USD492.33 million, lower than the USD687.8 million at the end of last week.*PNA

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