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Philippines shares post gains, PHP ends flat vs USD

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Philippines shares post gains, PHP ends flat vs USD
« on: December 23, 2016, 05:52:54 PM »
PHL shares post gains, PHP ends flat vs USD

MANILA, Dec. 21 (PNA) - - The local stocks market and the Philippine peso took a breather Wednesday after days of being in the negative.

The Philippine Stock Exchange index (PSEi) finished the day with a 0.42-percent , or 27.70 points, increase to 6,686.36 points.

A trader attributed this to correction, citing that this is in line with the region.

All Shares rose 0.33 percent and most of the sectors followed suit.

Services led the sectoral indices with a 1.54 percent increase followed by the Financials with 1.16 percent jump.

Mining and Oil rose 0.67 points and Holding Firms by 0.33 points.

On the other hand, Property and Industrial shed 0.24 percent and 0.19 percent, respectively.

Volume of trade reached 916.63 million shares amounting to Php 5.28 billion.

Gainers led losers at 109 to 49 while 48 stocks were unchanged.

The peso ended the day flat to a greenback at 49.99, which a trader said is just normal after episodes of depreciation for weeks now.

It again touched the 50-level but still managed to finish shy of this level.

This, after it opened the day at 49.97 and traded between 50.00 and 49.95.

Average level for the day stood at 49.98, same as in the previous session.

Volume of trade reached USD 421 million, higher than the USD 363.8 million Tuesday.

The local currency is projected to trade between 49.80 and 50.00 Thursday. (PNA)

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