Stocks get boost from foreign funds

  • 📰 manilabulletin
  • ⏱ Reading Time:
  • 30 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 15%
  • Publisher: 51%

Nigeria News News

Nigeria Nigeria Latest News,Nigeria Nigeria Headlines

The local stock market continued to recover lost ground partly due to news of some foreign buying.

The PSEi added 46.07 points or 0.69 percent to close at 6,752.50 as Banks posted strong gains while the Services and Mining and Oil counters declined. Volume improved to 1.47 billion shares worth P10.56 billion as losers beat gainers by a hair at 89 to 88 while 47 were unchanged.

He noted that, “Wall Street is hoping for new guidance on how the central bank will act this autumn, but expectations are lower, with many expecting Powell to reiterate the Fed’s promise to slow inflation by raising interest rates.” Philstocks Financial Research and Engagement Officer Claire Alviar said “The local bourse closed higher along with other Asian markets as investors await the speech of Fed Chair Jerome Powell at Jackson Hole.”

She added that, “Moreover, net inflow of foreign investments worth $625.15 million year-to-date boosted investors’ sentiment as well.”

 

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:

 /  🏆 25. in NG

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

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

CREATE-ing Business Opportunities? - BusinessWorld OnlineThe Angara Abello Concepcion Regala Cruz Law Offices or ACCRALAW recently concluded a seminar on the latest laws geared to promote foreign investments.
Source: bworldph - 🏆 9. / 68 Read more »

China exerting growing pressure on foreign companies, study finds - BusinessWorld OnlineBERLIN — China is exerting increasing pressure on foreign companies doing business in its markets to bring them into line with its political agenda, broadening the “red lines” for issues to which it is allergic, a German study seen by Reuters shows. A survey of more than 100 companies by the Berlin-based Merics think tank […]
Source: bworldph - 🏆 9. / 68 Read more »