Manila: The United States and Iran's agreement to halt retaliatory attacks ahead of peace talks in Doha, Qatar drove positive closes for both the local stock market and the peso on Monday. The Philippine Stock Exchange index (PSEi) gained 1.01 percent to 6,133.41 points, and the broader All Shares gained 0.68 percent to 3,352.96 points.

According to Philippines News Agency, most of the sectoral indices also rose during the day, namely Financials, 1.85 percent; Holding Firms, 1.15 percent; Services, 0.93 percent; and Industrial, 0.64 percent. On the other hand, Mining and Oil fell by 1.53 percent and Property by 0.26 percent. Volume reached 861.2 million shares, amounting to PHP5.2 billion. Advancers led decliners at 96 to 75, while 70 shares were unchanged.

Rizal Commercial Banking Corporation (RCBC) chief economist Michael Ricafort, in a report, traced the PSEi's performance to the agreement by the US and Iran 'to stop retaliatory attacks before peace talks resume this week' in Doha. He said, 'technical talks continue; as a result, global crude oil prices mostly corrected slightly higher but still erased almost all of their increase since the war on Iran/Middle East started nearly four months ago or since February 28, 2026.'

The local currency gained against the greenback and closed the week's first trading day at 61.17 from 61.29 last Friday. It opened the day flat at 61.3, and traded between 61.32 and 61.12. The average for the day stood at 61.22. Volume reached USD 1.43 billion, down from the USD 2.1 billion at the end of last week. Ricafort said the factors that lifted the PSEi during the day are the same reasons driving the performance of local currency.