Peso vs US Dollar Exchange Rate

By Joann Santiago

Investors’ appetite waned on Friday due to global negative developments, primarily in Europe that resulted in a slack performance by the local bourse.

But not the peso, which gained 16 centavos to a US dollar after capping the day at 42.37 over the previous close of 42.53.

The local currency started the day at 42.48, better than day-ago’s 42.63.

Its strongest for the day stood at 42.36 but weakest was at 42.50 resulting to an average of 42.43, better than day-ago’s 42.59.

Volume of trade reached US$ 676.75 million, slightly higher than the previous day’s US$ 654.88 million.

At the Philippine Stocks Exchange (PSE), the main index, the PSEi, was cut by 49.92 points, or 0.9565 percent to 5,169.05 points over the previous day’s fresh record high of 5,218.97 points.

Also, the broader all shares index was slashed by 25.59 points, or 0.7349 percent to 3,456.35 points from Thursday’s 3,481.94 points.

All the sectoral indices tracked the path of the main index.

The financials index lost 15.32 points, or 1.1799 percent, and ended the trade at 1,283.15 points over Thursday’s 1,298.47 points.

The industrial index contracted to 7.80 points, down by 57.04 points, or 0.7247 percent over 7,870.84 points on Thursday.

Index of the holding firms fell by 26.26 points, or 0.5894 percent to 4,429.45 points from the previous day’s 4,455.71 points.

The property index ended at 1,910.01 points from day-ago’s 1,937.21 points after a drop of 27.20 points, or 1.4041 percent.

The services index also ended the day on the red at 1,715.79 points, down by 7.76 points, or 0.4502 percent over the previous day’s 1,723.55 points.

Relatively, the mining and oil, which has been registering highs on account of the possible oil and gas exploration in the Recto Bank, contracted by 182.23 points to 0.6701 percent to 27,012.21 points over the previous trade’s 27,194.44 points.

Trading was low at 1.97 billion shares but value turnover reached P5.82 billion.

Losers edged gainers at 87 to 73 while 51 stocks were unchanged.

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