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.
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:
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.
NFA steps up rice purchases to beef up stocks | Raadee S. SausaThe National Food Authority (NFA) said it continues to buy rice from planters at P19 per kilogram in its bid to beef up its buffer stocks. The NFA also said its branches nationwide are always open to accommodate farmers who want to sell their unmilled rice to the agency. The…
Source: BusinessMirror - 🏆 19. / 59 Read more »
Stocks drop on US recession fearsThe local stock market fell but recovered and ended just slightly lower on fears of a US economic recession. ManilaBulletin
Source: manilabulletin - 🏆 25. / 51 Read more »
Stocks gain, gold jumps as Fed rate hike pause seenUS stocks end sharply higher on optimism the Federal Reserve could be nearing the end of its aggressive rate hiking cycle.
Source: rapplerdotcom - 🏆 4. / 86 Read more »
Asian stocks follow Wall Street down after US recession warning | Joe Mcdonald / AP Business WriterBEIJING—Asian stock markets declined Thursday after the Federal Reserve said its economists expect a “mild recession” this year. Shanghai, Hong Kong, Seoul and Sydney retreated. Tokyo advanced. Oil prices fell. Wall Street closed lower Wednesday after notes from the central bank’s latest meeting said its economists expect lower bank lending…
Source: BusinessMirror - 🏆 19. / 59 Read more »