MANILA – The Philippine Stock Exchange index (PSEi) rose Monday but the peso weakened ahead of the Federal Open Market Committee (FOMC) meeting on June 9-10.
The main equities index increased by 0.76 percent, or 48.87 points, to 6,514.00 points.
Luis Limlingan, Regina Capital Development Corporation head of sales, attributed partly the gain to major economic reports from the US and Europe this week.
Aside from the FOMC meeting, the US government is also scheduled to release the jobless claims on June 11. Eyes are also on the Eurogroup meeting this week, he said.
The positive close of the main index was trailed by most other counters, with All Shares up by 1.43 percent, or 54.12 points, to 3,827.40 points.
Mining and Oil counter led the sectoral gauges with an uptick of 8.63 percent, and was followed by the Industrial, 2.54 percent; Property, 1.39 percent; Holding Firms, 1.19 percent; and Services, 0.51 percent.
Only the Financials ended on the red with a drop of 1.52 percent.
Volume totaled 1.18 billion shares amounting to PHP9.63 billion.
Advancers surpassed decliners at 157 to 58, while 35 shares were unchanged.
Meanwhile, the peso closed the day weaker against the US dollar at 49.9 from 49.8 Friday last week.
It opened the day at 49.83, better than its 49.93 start in the previous session.
It traded between 49.97 and 49.8, resulting in an average of 49.886.
Volume totaled to USD651.3 million, lower than the USD1.01 billion at the end of last week. (PNA)
