THE peso and stock market ended the week on a positive note with sentiment said to have been boosted by rate cut prospects and optimism over third-quarter corporate earnings.The currency strengthened by 28.9 centavos to P57.511 while the benchmark Philippine Stock Exchange index added 15.40 points, or 0.21 percent, to close Friday at 7,415.73.The broader All Shares edged up by 5.28 points, or 0.13 percent, to 4,081.52.The peso opened at the day's high of P57.8:$1 and ranged as low as P57.48.
driven by the policy easing prospects of the Bangko Sentral ng Pilipinas and optimistic expectations of Q3 corporate results.'Trading, however, was said to be 'tepid' with net value turnover at P4.25 billion, lower than year-to-date average of P5.21 billion.'Foreigners were net buyers with net inflows amounting to P173.77 million,' Tantiangco added.Regina Capital Development Corp.
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Peso again near P56:$1; stock market reboundsTHE peso fell on Thursday but avoided a return to the P56:$1 level while the stock market posted a strong rebound back to 7,400 territory.
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Peso weakens anew, stock market also drops as fears riseTHE peso continued to fall on Tuesday and the stock market retreated slightly from an over four-year high, with sentiment said to have weakened due to fears of a wider war in the Middle East and the reduced likelihood of another jumbo US Federal Reserve rate cut.
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Stock market surges but peso nears P57:$1THE peso opened the week on a down note, moving closer to the P57:$1 level as the dollar strengthened, while the stock market hit pre-pandemic highs amid hopes of more policy rate cuts.
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Peso weakens further, pulls stock market downTHE peso and stock market continued to fall on Thursday ahead of the release of US inflation data that could provide cues about the likely outcome of next month's Federal Reserve policy meeting.
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