THE PESO appreciated on Thursday as demand for dollars declined due to the Bank of England’s (BoE) emergency action to launch a bond program to avoid a meltdown in the gilts market. The local unit closed at P58.97 against the greenback on Thursday, gaining one centavo from its P58.98 finish on Wednesday, Bankers Association of […]
Tag: thursday
Philippine stocks recover as foreign markets climb
THE LOCAL INDEX snapped out of its four-day decline on Thursday following Wall Street’s positive movement overnight as the Bank of England’s intervention in the UK bond market doused investors’ fears. The bellwether Philippine Stock Exchange index (PSEi) climbed by 54.57 points or 0.92% to close at 5,934.25 on Thursday, while the broader all shares […]
Power co-ops report P25.30 million worth of typhoon damage
DAMAGE incurred by electric cooperative due to Typhoon Karding (international name: Noru) has been valued at P25.30 million so far, according to the Department of Energy (DoE). The National Electrification Administration (NEA) reported that as of Thursday, 12 electric cooperatives had notified it of damage to their facilities. These are: Aurora Electric Cooperative, Inc.; Mountain […]
Peso drops to new all-time low on hawkish Fed
THE PESO closed at a new record low against the dollar for the third straight day after the US Federal Reserve delivered another aggressive rate hike and signaled more increases to bring inflation under control. The local unit closed at P58.49 versus the greenback on Thursday, down by 49 centavos from its P58 finish on […]
Philippine stocks drop as Fed, BSP raise rates
PHILIPPINE SHARES declined further on Thursday after the US Federal Reserve raised borrowing costs anew overnight and gave a hawkish outlook on rates, with the Bangko Sentral ng Pilipinas (BSP) also delivering another increase at its own policy meeting. The benchmark Philippine Stock Exchange index (PSEi) went down by 39.98 points or 0.63% to close […]
PSE index slips ahead of Fed, BSP policy meetings
THE benchmark index slipped to the 6,500 level on Thursday on profit taking and cautious trading ahead of central bank meetings next week and the rebalancing of Financial Times Stock Exchange (FTSE) on Friday. The Philippine Stock Exchange index (PSEi) inched down by 7.19 points or 0.1% to close at 6,575.67 on Thursday, while the […]
Peso logs new all-time low vs dollar on hawkish signals from Fed officials
THE PESO weakened to a new record low versus the dollar for the fifth straight day following hawkish signals from the US Federaal Reserve. The local unit closed at P57.18 a dollar on Thursday, inching down by 4.5 centavos from its P57.135 finish on Wednesday, according to Bankers Association of the Philippines data. Year to […]
Shares up on bargain hunting, Wall Street’s rise
PHILIPPINE STOCKS closed higher on Thursday on bargain hunting as well as improved labor data, also tracking Wall Street’s rise overnight. The benchmark Philippine Stock Exchange index (PSEi) rose by 39.66 points or 0.6% to close at 6,593.74 on Thursday, while the broader all shares index went up by 15.13 points or 0.43% to 3,505.20. […]
Peso weakens, nears record low on Fed hike fears
THE PESO sank to a near 18-year low against the dollar on Thursday on expectations of more aggressive moves from the US Federal Reserve and global growth and inflation concerns. The local unit closed at P56.42 per dollar on Thursday, down by 27.5 centavos from its P56.145 finish on Wednesday, data from the Bankers Association […]
Main index up on bargain hunting after 3-day slide
THE MAIN INDEX inched up on Thursday to end its three-day slide on bargain hunting and ahead of the release of local and US economic data. The benchmark Philippine Stock Exchange index (PSEi) climbed by 4.63 points or 0.07% to close at 6,588.28 on Thursday. Meanwhile, the broader all shares index went down by 2.68 […]
Peso flat ahead of second US GDP estimate
THE PESO inched higher against the dollar on Thursday as market players await the release of a new estimate for the United States’ second-quarter economic performance. The local unit closed at P56.06 per dollar on Thursday, gaining a centavo from its P56.07 finish on Tuesday, based on data from the Bankers Association of the Philippines. […]
PSEi tracks Wall St.’s rise ahead of Fed conference
STOCKS climbed on Thursday, tracking Wall Street’s rise overnight, as investors await the annual gathering of global central bankers hosted by the US Federal Reserve. The bellwether Philippine Stock Exchange index (PSEi) went up by 62.98 points or 0.94% to close at 6,706.43 on Thursday, while the broader all shares index went up by 23.95 […]
PHL stocks flat as investors remain on sidelines
LOCAL stocks were flat on Thursday, as investors remained on the sidelines ahead of the Bangko Sentral ng Pilipinas’ (BSP) widely-expected rate hike. The Philippine Stock Exchange index (PSEi) inched up 0.08% to close at 6,824.63 on Thursday, while the broader all shares index was flat at 3,619.77. AB Capital Securities, Inc. Vice-President Jovis L. […]
PSEi surges, tracks Wall St. on slower US inflation
PHILIPPINE SHARES surged on Thursday, tracking Wall Street as a slower consumer inflation reading in the world’s largest economy caused US stocks to rally. The 30-member Philippine Stock Exchange index (PSEi) soared by 208.84 points or 3.22% to close at 6,680.68 on Thursday, while the broader all shares index increased by 89.06 points or 2.57% […]
Three grain ships set to leave Ukraine; NATO chief says Russia must not win
ISTANBUL/KYIV – Three ships carrying a total of 58,041 tonnes of corn have been authorized to leave Ukrainian ports on Friday as part of a deal to unblock grain exports, as a Russian offensive forced Ukraine to cede territory in the east. The first vessel carrying Ukrainian grain allowed to leave port since the start […]
Stocks extend rally as investors pick up bargains
PHILIPPINE SHARES extended their rally on Thursday on bargain hunting and ahead of the release of July inflation data. The 30-member Philippine Stock Exchange index (PSEi) rose by 53.03 points or 0.82% to close at 6,483.11 on Thursday, while the broader all shares index increased by 24.93 points or 0.72% to 3,461.76. “Philippine shares [were] […]
Peso rebounds vs dollar on lower oil prices, PHL stocks’ 3-day rally
THE PESO rebounded against the dollar on Thursday as global oil prices declined and on positive market sentiment as the country’s benchmark stock index rose for the third straight day. The local unit closed at P55.60 per dollar on Thursday, gaining 14 centavos from its P55.74 finish on Wednesday, based on Bankers Association of the […]
Peso declines on recession fears, ECB
THE PESO weakened further versus the dollar on Thursday on recession fears and ahead of the European Central Bank’s (ECB) policy meeting, where it is expected to raise rates for the first time in 11 years. The local unit closed at P56.35 versus the greenback on Thursday, down by six centavos from its P56.29 finish […]
Stock index drops further on coronavirus worries
THE bellwether index slipped further on Thursday as rising coronavirus disease 2019 (COVID-19) cases in the country and latest balance of payments (BoP) data weighed on sentiment and ahead of meetings of key central banks. The Philippine Stock Exchange index (PSEi) went down by 18.63 points or 0.29% to close at 6,256.17 on Wednesday, while […]
Peso strengthens on aggressive BSP hike
THE PESO continued to strengthen against the dollar on Thursday as the Bangko Sentral ng Pilipinas (BSP) delivered its biggest-ever rate hike amid growing inflation pressures. The local unit closed at P56.15 per dollar on Thursday, gaining 11 centavos from its P56.26 finish on Wednesday, based on Bankers Association of the Philippines data. Still, year […]