The main index increased 33.04 points or 0.51 percent to close at 6,481.91 as the Mining and Oil sector led the advance although Banks lagged behind. Volume dropped to 981 million shares worth P4.62 billion as gainers outnumbered losers 99 to 81 with 46 unchanged.
“Philippine shares settled in the green as investors cheered the latest data showing the pace of inflation was slowing,” said Regina Capital Development Corporation Managing Director Luis Limlingan. The March PPI, a leading indicator of consumer inflation, declined 0.5% from the prior month, even as economists polled by Dow Jones expected prices to stay the same.
“On the last trading day of the week, the local bourse gained as investors cheered more signs of cooling inflation in the US,” said Philstocks Financial Assistant Research Manager Claire Alviar.
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