MANILA – A clearer picture of a stimulus package not materializing before the US presidential polls next month addressed investors’ anxieties on the issue and boosted the main equities index Thursday but the peso ended sideways.
The Philippine Stock Exchange index (PSEi) rose by 0.22 percent, or 13.03 points, to 5,938.33 points.
All Shares followed with a jump of 0.15 percent, or 5.53 points, to 3,585.62 points.
Most of the sectoral indices also gained during the day, led by the Mining and Oil, which increased by 1.63 percent.
Financials inched up by 0.59 percent, Holding Firms by 0.54 percent, and Property by 0.09 percent.
Services declined by 0.21 percent and Industrial by 0.14 percent.
Volume totaled 1.18 billion shares amounting to PHP3.42 billion.
Gainers led losers at 104 to 80, while 62 shares were unchanged.
Luis Limlingan, Regina Capital Development Corporation head of sales, said US Treasury Secretary Steven Mnuchin’s comments discounting another economic relief measure before the November 3 election “tempered expectations” for this package.
He, however, said Mnuchin and US House of Representative Nancy Pelosi are still set to meet within the week.
Limlingan also cited reports that some European authorities have set stricter coronavirus disease (Covid-19) measures as infections continue to rise.
Amid the positive close of the main equities gauge, the peso ended the day’s trade sideways at 48.68 from 48.65 a day ago.
It opened the day at 48.58 and traded between 48.69 and 48.56.
Average level for the day stood at 48.62.
Volume rose to USD829.01 million, higher than the previous session’s USD715.61 million. (PNA)
