Manila: 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) increased by 0.22 percent to 6,395.59, with All Shares also rising by 0.24 percent to 3,785.31.

According to Philippines News Agency, among the sectoral indices, Mining and Oil showed the largest gain at 4.32 percent. However, Holding Firms and Services experienced declines of 0.48 percent and 0.41 percent, respectively. Commenting on the stock market performance, Regina Capital Development Corp. head of sales Luis Limlingan noted that Philippine stocks edged higher as new data from the US indicated a more resilient economy. The May producer price index rose by only 0.1 percent, softer than expected, which has reinforced hopes that inflationary pressures are easing. Advancers outnumbered decliners at 108 to 92.

Meanwhile, the peso weakened, closing at 56.21 to a dollar on Friday, in contrast to the 55.88 finish the previous trading day. It opened at 55.8 and fluctuated between 55.75 to 56.23 throughout the day. The weighted average settled at 55.99, with the volume of trade reaching USD1.71 billion.