PH stocks slump on rising oil prices, peso rebounds

tension between Russia and Ukraine.

Trading was tepid, with net value turnover registering P3.11 billion, below the year-to-date average of P5.17 billion.Among the indices, only the mining and oil closed with gains, up 0.07 percent. The gains in equities followed a retreat in most regional bourses Thursday after a forecast-topping earnings report from chip titan Nvidia still fell short of investors’ hopes and sparked worries that a tech-fueled surge in markets may have run its course.

“If we look out over the next year or so, it feels to me like rates will end up a fair bit lower than where they are today,” he said.

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