MANILA – The Philippines’ main equities index finished the week up on positive earnings reports by listed firms but the peso depreciated against the US dollar.
The Philippine Stock Exchange index (PSEi) gained 0.42 percent, or 30.35 points, to 7,213.46 points.
All Shares followed with a jump of 0.11 percent, or 4.86 points, to 4,448.81 points.
The majority of the sectoral gauges also gained during the day. These are Mining and Oil, 2.08 percent; Services, 1.07 percent; Financials, 0.68 percent; Property, 0.27 percent; and Industrial, 0.08 percent.
Only Holding Firms finished in the red after slipping by 0.03 percent.
Volume totaled 1.22 billion shares amounting to PHP10.56 billion.
Advancers led decliners at 113 to 84 while 45 shares were unchanged.
“Philippine shares climbed once again, buoyed by upbeat 3Q earnings from major firms, a retreat from treasury yields, and hints of improvements in the job market,” Luis Limlingan, Regina Capital Development Corp. head of sales, said, referring to the impact of developments in the US.
On the local front, he said, investors took note of the easing of movement curbs in the National Capital Region after it was placed under Alert Level 3 from October 16 to 31, due to the decline in the number of coronavirus disease 2019 (Covid-19) infections.
On the other hand, the peso weakened against the US dollar after closing the trade at 50.711 from 50.605 on Thursday.
It opened the day at 50.68 and traded between 50.79 and 50.61, averaging at 50.686.
Volume rose to USD957.74 million from USD936.65 million on Thursday. (PNA)
