Local shares bounced back and the peso closed stronger against the dollar on the last trading day of the week. The Philippine Stock Exchange index (PSEi) rose 0.21 percent to 7,415.73, while the broader All Shares, likewise, went up to 4,081.52. "Positive sentiment took over in today's trading, driven by the policy easing prospects of the Bangko Sentral ng Pilipinas, and optimistic expectations of Q3 (third quarter) corporate results," Philstocks Financials, Inc. research manager Japhet Tantiangco said in a statement. The miners led the sectors Friday, adding 0.76 percent, while industrials lost the most, cutting 0.19 percent. Advancers edged decliners 103 to 91. The peso, meanwhile, closed at 57.511 against the dollar, stronger than the 57.8 finish the previous day. It opened at 57.8 and traded between 57.48 and 57.8, bringing the day's weighted average to 57.651. Volume of trade went up to USD1.7 billion from USD1.4 billion on Thursday Source: Philippines News agency
Saturday, October 19, 2024