PSEi recovers; peso slightly weakens on positive US jobs report

MANILA — The Philippine Stock Exchange index (PSEi)  finished the week’s first trading day up but the peso finished a little weaker against the greenback on back of the positive US jobs report last October.

PSEi recovered from another slip last Friday and ended Monday at 8,523.07 points, up 1.75 percent or 146.94 points.

All the other indices followed the rise of the main index, with the broader All Share rising by 1.42 percent, or 69.70 points, to 4,968.60 points.

The sectors were led by the Holding Firms, which ticked-up 2.45 percent.

It was followed by Industrial, 1.85 percent; Services, 1.32 percent; Financials, 0.96 percent; Property, 0.62 percent; and Mining and Oil, 0.21 percent.

Volume for the day reached slightly over 1 billion shares amounting to PHP7.29 billion.

Gainers led losers at 105 to 95 while 41 shares were unchanged.

The local currency finished the day at 51.28 from last Friday’s 51.21.

A trader attributed this to rise in jobs in the US in the 10th month this year to 261,000.

The peso started the day a tad better at 51.30 from 51.36 in the previous trading day.

It improved further to 51.26 but also moved to 51.35, resulting to an average of 51.30.

Volume for the day reached USD330.95 million, lower by more than half than the USD693.2 million at the end of last week.