MANILA – The local stock barometer rose anew Thursday on a positive earnings report while the peso kept its footing against the US dollar.
The Philippine Stock Exchange index (PSEi) rose by 0.65 percent, or 44.29 points, to 6,903.75 points.
All Shares increased by 0.53 percent, or 22.07 points, to 4,165.33 points.
Most of the sectoral gauges also finished the day up, led by the Holding Firms, which rose 1.22 percent.
It was followed by the Property index, 0.50 percent; Financials, 0.39 percent; and Mining and Oil, 0.15 percent.
Meanwhile, Industrial declined by 0.21 percent and Services by 0.14 percent.
Volume totaled 36.2 billion shares amounting to PHP10.42 billion.
Gainers led losers at 123 to 99, while 43 shares were unchanged.
“Local shares closed much higher to reach the 6,900-level as regional earnings continue to come in better-than-expected, and ahead of the local CPI (consumer price index) data, which will be released tomorrow,” Regina Capital Development Corporation head of sales Luis Limlingan said.
The Bangko Sentral ng Pilipinas (BSP) forecasts the rate of price increases for January 2021 to stay between 3.3 to 4.1 percent, with the point inflation at 3.7 percent.
Domestic inflation rate rose in the fourth quarter of 2020, which authorities point to weather-related factors.
The inflation averaged at 2.6 percent last year, still within the government’s 2-4 percent target band until 2024.
Meanwhile, the peso ended the day’s trade at 48.08 from 48.019 a day ago.
It opened the day at 48.04 and traded between 48.098 and 48.03.
Average level for the day stood at 48.065. (PNA)
