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Stocks rise on earnings reports, but the peso ends flat.

During the first trading day of the month, the local stock market recorded gains while the local currency finished flat.

The Philippine Stock Exchange index (PSEi) rose 47.61 points, or 0.72 percent, to 6,672.69 at the conclusion of business on Tuesday.

Additionally, all shares rose to 3,546.69 by 14.16 points or 0.40 percent.

According to Regina Capital Development Corp. head of sales Luis Limlingan, “Philippine shares got off to another great start as investors have been cheering the local earnings trickling along and placing bets on the April CPI (consumer price index) coming on Friday.”

On the other side, with gains of 92.62 points, 25.24 points, and 0.96 points, respectively, Holding Firms, Property, and Financials were the day’s top performers.

Financials closed the day at 1,919.09, Property at 2,760.73, and Holding Firms at 6,498.41.

Mining and Oil was the biggest loser, dropping down 50.66 points to 10,535.88. Industrial was next, losing 24.08 points to 9,481.81, while Services lost 1.73 points to 1,603.47.

At 103 to 83, advancers outnumbered decliners, and 48 counters remained unchanged.

The peso’s closing value was 55.34 to the US dollar, down from the previous week’s closing value of 55.38.

The rate averaged 55.37 for the day after opening at 55.48 and fluctuated between 55.26 and 55.50.

Trade volume dropped from USD1.24 billion last week to USD1.06 billion.

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