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BusinessWorld Online » Stock Market
3d ago
PHILIPPINE SHARES inched higher on Thursday amid strong earnings reports and as the national government’s budget gap narrowed last month.
The Philippine Stock Exchange index (PSEi) rose by 0.03% or 2.13 points to end at 6,574.88 on Thursday, while the broader all shares index went up by 0.13% or 4.51 points to close at 3,467.97.
“This Thursday, the local market inched up by 2.13 points (0.03%) to 6,574.88. Investors are looking forward to further first-quarter earnings results as initial reports from the banking space were positive. Additionally, the narrowing of the country’s budg ..read more
BusinessWorld Online » Stock Market
5d ago
STOCKS inched up on Monday amid thin trading volume and as investor sentiment improved following an order from President Ferdinand R. Marcos, Jr. to ease the import process for agricultural products.
The Philippine Stock Exchange index rose by 0.01% or 1.08 points to end at 6,444.08 on Monday, while the broader all shares went up by 0.12% or 4.16 points to close at 3,425.71.
“The local bourse inched up by 1.08 points (0.01%) to 6,444.08 after the strong sell-off last week,” Philstocks Financial, Inc. Research Analyst Claire T. Alviar said in a Viber message. “President Marcos’ directive to eas ..read more
BusinessWorld Online » Stock Market
5d ago
PHILIPPINE STOCKS will continue to be weighed down by volatility this week amid the ongoing conflict in the Middle East and lingering inflation concerns at home.
On Friday, the benchmark Philippine Stock Exchange index (PSEi) dropped by 1.22% or 80.19 points to end at 6,443, while the broader all shares index fell by 1% or 34.77 points to close at 3,421.55.
Week on week, the PSEi sank by 3.25% or 216.39 points from the 6,659.39 close on April 12.
“Sentiment remained subdued amid geopolitical tensions and macro headwinds,” online brokerage firm 2TradeAsia.com said in a market note.
For this wee ..read more
BusinessWorld Online » Stock Market
1w ago
PHILIPPINE STOCKS rose for the second straight session on Thursday on continued bargain hunting and expectations of rate cuts in the fourth quarter (Q4).
The Philippine Stock Exchange index (PSEi) rose by 1.13% or 73.15 points to close at 6,523.19 on Thursday, while the broader all shares index climbed by 0.76% or 26.30 points to finish at 3,456.32.
“Fueling the positive sentiment was the resurfacing of rate cut hopes as Bangko Sentral ng Pilipinas (BSP) Governor Eli M. Remolona, Jr. stated the possibility of monetary easing starting in the fourth quarter of this year,” Philstocks Financial, I ..read more
BusinessWorld Online » Stock Market
1w ago
PHILIPPINE SHARES rebounded on Wednesday, ending their nine-day losing streak, as investors bought bargains and with sentiment boosted by the International Monetary Fund’s (IMF) improved economic outlook.
The bellwether Philippine Stock Exchange index (PSEi) went up by 0.7% or 45.07 points to end at 6,450.04 on Wednesday, while the broader all shares index climbed by 0.59% or 20.17 points to close at 3,430.02.
“Investors took the opportunity to buy bargains near the 6,400 support level. Adding to the positive sentiment, the International Monetary Fund revised its growth forecast for the Philip ..read more
BusinessWorld Online » Stock Market
1w ago
THE BELLWETHER INDEX plummeted to the 6,400 level on Tuesday as investors remained cautious amid the escalating conflict in the Middle East.
The 30-member Philippine Stock Exchange index (PSEi) fell by 2.39% or 157.46 points to end at 6,404.97 on Tuesday, while the broader all shares index retreated by 1.96% or 68.26 points to close at 3,409.85.
This was the PSEi’s worst finish in more than four months or since it closed at 6,255.74 on Dec. 13, 2023.
“Philippine shares experienced the largest sell-off year to date as the market touched the 6,400 level, falling 2.4%, spurred by increased ..read more
BusinessWorld Online » Stock Market
1w ago
THE MAIN INDEX closed at a near three-month low on Monday on profit taking amid the geopolitical conflict in the Middle East.
The benchmark Philippine Stock Exchange index (PSEi) dropped by 1.45% or 96.96 points to finish at 6,562.43 on Monday, while the broader all shares index fell by 1.11% or 39.29 points to close at 3,478.11.
This was the PSEi’s worst finish in almost three months or since it closed at 6,503.54 on Jan. 19.
“The local bourse plunged by 96.96 points (1.45%) to 6,562.43 as worries over tensions in the Middle East heightened, forcing investors to secure some gains to avoid unc ..read more
BusinessWorld Online » Stock Market
1w ago
PHILIPPINE SHARES may move sideways this week as investors pick up cheap stocks and amid expectations of elevated interest rates here and abroad due to persistent upside risks to inflation.
On Friday, the 30-member Philippine Stock Exchange index (PSEi) fell by 0.27% or 18.26 points to end at 6,659.39, while the broader all shares index dropped by 0.24% or 8.47 points to close at 3,517.40.
Week on week, the PSEi went down by 1.28% or 86.07 points from its 6,745.46 close on April 5.
“The local bourse continued its slide this shortened trading week as macro headwinds persisted after another red ..read more
BusinessWorld Online » Stock Market
2w ago
PHILIPPINE STOCKS closed lower on Thursday following faster-than-expected US consumer inflation last month, which could lead to delayed policy easing by the US Federal Reserve.
The bellwether Philippine Stock Exchange index (PSEi) dropped by 0.94% or 63.42 points to end at 6,677.65 on Thursday, while the broader all shares index retreated by 0.94% or 33.72 points to close at 3,525.87.
“Philippine shares took another plunge as investors assessed a hot US March consumer price index (CPI) reading that fueled worries the Federal Reserve may implement fewer rate cuts than expected,” Regina Capital ..read more
BusinessWorld Online » Stock Market
2w ago
PHILIPPINE SHARES may move sideways when trading resumes on Thursday as the market turns its focus to the release of US consumer and producer inflation data.
On Monday, the bellwether Philippine Stock Exchange index (PSEi) fell by 0.06% or 4.39 points to close at 6,741.07. Meanwhile, the broader all shares index climbed by 0.12% or 4.41 points to finish at 3,559.59.
Philippine financial markets were closed for nonworking days on Tuesday, April 9 (Day of Valor) and Wednesday, April 10 (Eid’l Fitr).
“With the Bangko Sentral ng Pilipinas (BSP) holding its policy rate as expected, market direction ..read more