THE PESO ended weaker against the dollar on Monday following stronger US employment data and the downward revision to Philippine economic managers’ growth forecast for next year. The local unit closed at P56.02 versus the dollar on Monday, losing 28 centavos from its P55.74 finish on Friday, data from the Bankers Association of the Philippines’ […]
Tag: monday
Local shares fall on last-minute profit-taking
LOCAL STOCKS declined further on Monday on profit-taking ahead of the release of November inflation data. The 30-member Philippine Stock Exchange index (PSEi) lost 47.52 points or 0.73% to close at 6,442.13 on Monday, while the broader all shares index decreased by 15.72 points or 0.46% to 3,403.93. “Local stocks continued to falter amid persisting […]
Disney CEO Iger makes profitable streaming a priority
WALT DISNEY Co. Chief Executive Bob Iger said on Monday that one of his top priorities is to make the company’s streaming business profitable. Mr. Iger is responsible for Disney’s all-in embrace of streaming, and the launch of its marquee service, Disney+, but he acknowledged the measurement of success has changed. Wall Street investors now […]
Stocks climb on bargain hunting ahead of data
PHILIPPINE SHARES ended in the green on Monday, testing resistance levels, on bargain hunting ahead of key US economic data. The bellwether Philippine Stock Exchange index (PSEi) gained 74.53 points or 1.12% to end at 6,681.47 on Monday, while the broader shares index went up by 28.73 points or 0.83% to 3,481.17. Regina Capital Development […]
Peso up on easing oil prices
THE PESO strengthened versus the dollar on Monday after global oil prices eased, erasing all gains posted since the start of the Russia-Ukraine war. The local unit closed at P56.64 against the greenback on Monday, stronger by three centavos from its P56.67 finish on Friday, data from the Bankers Association of the Philippines showed. The […]
Marcos dismisses as ‘fake news’ report Diokno on way out at DoF
PRESIDENT Ferdinand R. Marcos, Jr. dismissed as “fake news” reports that Finance Secretary Benjamin E. Diokno will exit the Department of Finance (DoF). “Fake news. I don’t know where it comes from,” Mr. Marcos told reporters when asked about Mr. Diokno’s status. A website reported on Monday that Mr. Marcos is looking to replace Mr. […]
Peso declines on Fed worries
THE PESO ended weaker against the dollar on Monday following hawkish signals from the US central bank, and as renewed coronavirus worries spurred safe-haven demand. The local unit closed at P57.36 versus the dollar on Monday, down by 10 centavos from its P57.26 finish on Friday, data from the Bankers Association of the Philippines’ website […]
Peso weakens on hawkish Fed comments
THE PESO dropped versus the dollar on Monday amid hawkish signals from a US Federal Reserve official that dampened hopes of smaller rate hikes after US inflation slowed in October. The local unit closed at P57.28 on Monday, losing five centavos from its P57.23 finish on Friday, Bankers Association of the Philippines data showed. The […]
Philippine shares climb on improved sentiment
PHILIPPINE STOCKS went up on Monday on improved market sentiment following positive data and tracking Wall Street’s rise on Friday. The benchmark Philippine Stock Exchange index (PSEi) gained 67.99 points or 1.08% to close at 6,354.76 on Monday, while the broader all shares index went up by 23.70 points or 0.71% to 3,352.59. “The PSEi […]
PHL shares climb on firms’ earnings, dovish Fed
STOCKS climbed on Monday on strong third-quarter results of listed companies and hopes that the US Federal Reserve will begin to consider smaller rate hikes at their meeting next month. The benchmark Philippine Stock Exchange index (PSEi) went up by 110.05 points or 1.77% to close at 6,295.58 on Monday, while the broader all shares […]
Peso slips as US data fuel rate hike bets
THE PESO slipped against the dollar on Monday due to strong US employment data, which could support more rate increases from the US Federal Reserve. The local unit closed at P58.58 versus the dollar on Monday, losing three centavos from its P58.55 finish on Friday, data from the Bankers Association of the Philippines’ website showed. […]
PHL shares inch up to track Wall Street’s rebound
PHILIPPINE SHARES inched up on Monday to track Wall Street’s rebound amid dovish comments from a US Federal Reserve official. The bellwether Philippine Stock Exchange index (PSEi) gained 45.23 points or 0.75% to end at 6,028.79 on Monday, while the broader all shares index went up by 21.63 points or 0.67% to close at 3,216.67. […]
Peso weakens on expectations of strong US manufacturing data
THE PESO weakened against the dollar on Monday as market players anticipate strong US data, which could cause the US Federal Reserve to continue its aggressive tightening. The local unit closed at P58.87 per dollar on Monday, shedding 12 centavos from its P58.75 finish on Friday, Bankers Association of the Philippines data showed. The peso […]
Stocks rise on remittance data, bargain hunting
LOCAL STOCKS closed higher on Monday following the release of data showing remittances rose in August and on continued bargain hunting. The benchmark Philippine Stock Exchange index (PSEi) went up by 65.58 points or 1.11% to close at 5,970.33 on Monday, while the broader all shares gained 20.89 points or 0.65% to end at 3,198.63. […]
PHL stocks track Wall St.’s drop on recession fears
PHILIPPINE STOCKS closed lower on Monday to track Wall Street’s decline as latest US jobs data fanned expectations of another aggressive rate hike from the US Federal Reserve next month that could push the world’s largest economy into recession. The benchmark Philippine Stock Exchange index (PSEi) declined by 99.61 points or 1.67% to close at […]
Peso returns to P59:$1 level on weak data, Fed hike concerns
THE PESO retreated on Monday, returning to the P59-per-dollar level, as the Philippines’ reserves and foreign direct investments continued to decline and on expectations of continued monetary tightening by the US Federal Reserve following a strong US jobs report. The local unit closed at P59 versus the dollar on Monday, losing eight centavos from its […]
Shares rebound as investors pick up bargains
PHILIPPINE STOCKS closed higher on Monday on bargain hunting following their decline last week, with investors also betting on further monetary tightening to arrest rising inflation. The benchmark Philippine Stock Exchange index (PSEi) went up 42.08 points or 0.73% to close at 5,783.15 on Monday, while the broader all shares gained 6.23 points or 0.2% […]
Super Typhoon Karding exits PHL, leaving 5 dead
FIVE rescue workers died in Bulacan on Sunday as Super Typhoon Karding, a category 3 typhoon with international name Noru, brought rains and strong winds across Luzon in northern Philippines, local authorities said. Governor Daniel R. Fernando of Bulacan, a coastal province immediately north of the capital region, told DZMM radio station the casualties were […]
Local shares fall on selling pressure, rate hike bets
PHILIPPINE STOCKS fell on Monday on selling pressure ahead of the monetary policy meetings of the US Federal Reserve and the Bangko Sentral ng Pilipinas (BSP) this week. The bellwether Philippine Stock Exchange index (PSEi) went down by 111.35 points or 1.7% to close at 6,437.42 on Monday, while the broader all shares index went […]
Peso strengthens on balance of payments data, lower oil prices
THE PESO strengthened versus the dollar on Monday, amid the narrower balance of payments (BoP) deficit in August and lower oil prices. The local unit closed at P57.40 against the greenback on Monday, stronger by three centavos from its P57.43 finish on Friday, data from the Bankers Association of the Philippines showed. The peso opened […]