Peso recovers, equities index declines anew

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The peso recovered yesterday, ending the week near its four-year high against the US dollar but the Philippine Stock Exchange index (PSEi) fell anew due to correction.

The local currency ended the week’s trade at 48.485 to the greenback, its strongest after its 48.48 close on Nov. 4, 2016.

Volume rose to USD1.191 billion from the previous session’s USD776.07 million.

Meanwhile, the main equities index shed anew after a drop of 0.63 percent, or 37.37 points, to 5,884.18 points.

All Shares fell 0.28 percent, or 9.83 points, to 3,534.58 points.

Most of the sectoral indices also finished the week in the red, led by the Property, which fell 1.75 percent.

Mining and Oil slipped by 0.82 percent, Holding Firms by 0.79 percent, Industrial by 0.52 percent, and Financials by 0.24 percent.

Only the Services index gained during the day after rising by 1.24 percent.

Volume totaled 3.73 billion shares, amounting to P8.26 billion.

Losers led gainers at 102 to 87, while 56 shares were unchanged.*PNA

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