The PSEi jumped 74.53 points or 1.13 percent to close at 6,681.47 as the Mining and Oil counter surged with only the Property sector retreating. Volume rose to 729 million shares worth P8.68 billion as gainers beat losers 112 to 77 with 40 unchanged.“Philippine shares close higher as the market continues to test previous resistance as the economic data remains encouraging,” said Regina Capital Development Corporation Managing Director Luis Limlingan.
He noted that, “A slew of U.S. economic data awaits investors to be digested this week, including Nov. Employment Change, third quarter GDP , Fed Chair Speech, Personal Income, ISM Manufacturing PMI reading, nonfarm payrolls, and unemployment rate. Back at home, the S&P Global Mfg. PMI and PPI for Oct are due on Dec 1 and Dec 2, respectively.
He added that, “The Peso’s sustained position above the 57.00 per US Dollar level and the decline in global oil prices also gave sentiment a boost. Foreign funds also helped in the rally.”
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Earnings data, digitalization news lift Security Bank stock - BusinessWorld OnlineSHARES in Security Bank Corp. moved upward as market players assessed its latest earnings report as well as its partnership with Consolsys, the Malaysia-based automation company that will handle the listed bank’s move to go digital.
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Stock-Market Outlook - BusinessMirrorLast week Share prices moved up for the sixth straight last week on investor optimism on the prospects for the local currency and the expected slowdown in interest rate hikes. The benchmark Philippine Stock Exchange index gained 169.56 points to close at 6,606.94 points. The index retreated on Monday, but it recovered and stayed in
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