News Formal

PSEi edges past 6,300 as companies crush inflation monster

  • 📰 inquirerdotnet
  • ⏱ Reading Time:
  • 8 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 7%
  • Publisher: 86%

Business News News

Business Business Latest News,Business Business Headlines

The benchmark Philippine Stock Exchange index pushed past the 6,300 level on Monday as investors digested the latest batch of corporate earnings from some of the country’s top conglomerates.

By the closing bell, the PSEi added 1.08 percent, or 67.99 points, to 6,354.76 while the broader All Shares index rose 0.71 percent, or 23.70 points, to 3,352.59.Conglomerates GT Capital Holdings and Ayala Corp. announced better earnings, showing further evidence that local companies successfully managed challenges brought about by high inflation during the third quarter of the year.

Holding firms was the top gaining subsector on Monday. It was followed by industrial , property , financials and services while mining and oil fell .

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 3. in BUSİNESS

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

What’s new with Philippine investment incentives - BusinessWorld Online2022 has ushered in several changes to the Philippines: a new administration, the winding down of the COVID-19 pandemic, and updates to the country’s investment incentive strategy.
Source: bworldph - 🏆 9. / 68 Read more »