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Stocks gauge, peso end on positive note

The Philippine Stock Exchange index recovered at the end of this week’s session and the peso remained firm against the greenback.

The PSEi gained 0.03 percent, or 1.61 points, to 6,199.25 points.

All Shares followed with a 0.06 percent, or 2.42 points, jump to 3,842.73 points.

Most of the sectoral gauges also ended the week on a positive note and these include the Property, 0.35 percent, Mining and Oil, 0.26 percent, Holding Firms, 0.13 percent, and Industrial, 0.07 percent.

On the other hand, Financials fell by 0.29 percent and Services by 0.24 percent.

Volume totaled 1.63 billion shares, amounting to P5.03 billion.

Gainers led losers at 103 to 95, while 47 shares were unchanged.

“Philippine shares closed the session quietly once again as investors observed tension in the Middle East after diplomats announced that they made some progress on the lifting of sanctions on Iran,” Luis Limlingan, Regina Capital Development Corporation head of sales, said.

He said other investors “poured focus back into the US with US stocks climbing last night due to the better-than-expected initial jobless claims data in April,” he said.

Initial jobless claims in the US reached 444,000 in the week ending May 15, down by 34,000 in previous week and below expectations.

Relatively, the local currency ended the week at 47.945 from 47.94 on Thursday.

It opened the day at 47.85, sideways from its 47.855 start in the previous session.

It strengthened to 47.84 mid-trade but also dipped to 47.965, resulting in an average of 47.897.

Volume totaled USD941.25 million, lower than the previous session’s USD979.8 million.*PNA

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