THE peso ended the year on a positive note, but still closed weaker compared to 2023, while the stock market gained year on year despite edging down on the final trading day of 2024.Philippine financial markets will be closed from Dec. 30 to Jan. 1 due to national holidays. Trading will resume on Jan. 2.The currency, which returned to a record low of P59 to the dollar three times this year, strengthened by 12 and a half centavos to P57.845:$1 on Friday.
Managing Director Luis Limlingan, meanwhile, said 'the PSEi ended 2024 lower, mirroring US market trends, as jobless claims fell to 219,000, below the 225,000 forecast, while continuing claims rose to 1.91 million, the highest since November 2021.'China Bank Capital Corp. Managing Director Juan Paolo Colet, for his part, said 'the year's last trading session saw the PSEi post a slight dip from the prior day's close but just enough to end 2024 with a modest gain of 1.