MANILA – The Philippine Stock Exchange index (PSEi) started the week with gains following positive jobs report from the US while the peso ended the day little changed against the US dollar.
The PSEi rose by 0.49 percent, or 34.12 points, to 7,036.38 points.
All Shares increased by 0.48 percent, or 20.64 points, to 4,315.61 points.
Most of the sectoral counters also gained including Industrial, 0.88 percent; Property, 0.84 percent; Holding Firms, 0.51 percent; Mining and Oil, 0.39 percent; and Services, 0.32 percent.
Only the Financials ended the day in the negative territory after it fell 0.17 percent.
Volume totaled 1.79 billion shares amounting to PHP4.31 billion.
Gainers led losers at 110 to 98, while 51 shares were unchanged.
“Philippine shares continued to climb after the June jobs report showed an accelerating recovery for the US labor market,” said Luis Limlingan, Regina Capital Development Corporation head of sales.
Last week, the US Labor Department reported the 850,000 increase in non-farm payrolls last June, the highest in the last 10 months.
Meanwhile, the peso ended the day’s trade sideways against the US dollar at 49.24 from 49.2 at the end of last week.
It opened the day at 49.1, better than its 49.28 start in the previous session.
It traded between 49.325 and 49.1, resulting in an average of 49.229.
Volume reached USD1.07 billion, higher than last Friday’s USD956 million. (PNA)
