Thu. Dec 3rd, 2020
(Photo Courtesy: http://www.pna.gov.ph)

The Philippine Stock Exchange index (PSEi) and the peso both gained on Friday as optimism continues to reign over various markets.

The main equities index rose by 2.20 percent, or 139.43 points, to 6,484.06 points.

The All Shares index increased by 1.88 percent, or 71.20 points, 3,859.95 points.

Most of the sectoral indices also gained during the day,led by  holding firms with a jump of 3.25 percent.

Property went up by 1.99 percent, Industrial by 1.78 percent, financials by 1.36 percent, and mining and oil by 0.15 percent.

Only the services index ended the week in the red after it fell by 0.17 percent.

Volume totaled to 1.38 billion shares amounting to P8.5 billion.

Gainer surpassed losers at 129 to 81 while 48 shares were unchanged.

“Another value stock-led rally pushed PSEi solidly into the green to close the week as positive earnings reports and optimism about US stimulus offset concerns about rising virus cases,” Luis Limlingan, Regina Capital Development Corporation head of sales, said.

During the day, listed company Universal Robina Corporation (URC) reported a 12 percent year-on-year jump in net income as of end-September this year to P8.1 billion amid the challenging business environment.

The optimism in the local bourse benefited the peso, which ended the day at P48.48 against the US dollar, up from its P48.6 close a day ago.

It opened the day at P48.64, sideways from its P48.55 start in the previous session.

It strengthened to P48.47 but also weakened to P48.675, resulting to an average of P48.587.

Volume totaled to $889.6 million, higher than Thursday’s $614.4 million. (pna.gov.ph)

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