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Stocks end sideways, peso flat

Both the Philippine Stocks Exchange index and the peso ended yesterday sideways as investors stayed on the sidelines partly due to the holiday in the US.

The main equities index shed 0.02 percent, or 1.06 points, to 6,627.43 points.

All Shares rose by 0.01 percent, or 0.47 points, to 4,023.30 points.

Most of the sectoral gauges also finished the day in the negative territory namely the Mining and Oil, 1.76 percent; Holding Firms, 0.89 percent; Industrial, 0.84 percent; and Services, 0.47 percent.

On the other hand, Property rose by 1.57 percent and Financials by 1.11 percent.

Volume totaled 4.08 billion shares, amounting to P14.78 billion.

Gainers led losers at 107 to 101, while 41 shares were unchanged.

Luis Limlingan, Regina Capital Development Corporation head of sales, said the listing of the Monde Nissin initial public offering (IPO) is among the focus of the day’s trading in the local bourse.

It is the largest IPO in the local stock market’s history with P48.6 billion raised by the Philippine-based food manufacturer.

“US futures, however, were slightly lower in overnight trading after major indexes saw gains in May,” he said.

Meanwhile, the peso ended the day at 47.76 from 47.695 Monday.

It opened the day at 47.65 and traded between 47.77 and 47.61.

Average level for the day stood at 47.666.

Volume reached USD1.12 billion, higher than the previous session’s USD878.5 million.*PNA

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