NextGen Day

MANILA, Philippines — Positive earnings reports from public companies in the Philippines and abroad drove the Philippines’ main stock index to 6,8000 on Monday, and the peso followed suit.

The Philippine Stock Exchange index (PSEi) increased 1.43 percent to 6,822.32 points, or 96.18 points.

The Dow Jones Industrial Average rose 1.03 percent, or 36.94 points, to 3,633.07 points.

The majority of sectors indices increased during the day, with Holding Firms up 2.51%, Mining and Oil up 2.9%, Financials up 1.95 percent, Property up 1.08 percent, and Industrial up 0.18 percent.

Only the Services index, which fell by 0.05 percent, concluded the day in the red.

With 890.17 million shares worth PHP7 billion traded, volume was light.

The advancers outnumbered the decliners 114 to 76, with 51 shares remaining unchanged.

“Philippine equities rose beyond the 6,800 barrier after a run of more cheerful business reports outweighed expectations of a severe economic decline,” said Luis Limlingan, head of sales at Regina Capital Development Corporation (RCDC).

The May 2022 Purchasing Managers Index for the Philippines and the United States, the US consumer confidence index, and non-farm payrolls are among the items expected to influence stock mood this week.

In comparison to the greenback, the local currency rose to 52.31 from 52.32 on Friday last week.

It began the day at 52.2, up from 52.33 at the start of the previous session.

It traded between 52.16 to 52.33, averaging 52.243 for the day.

The trade volume increased to USD1.2 billion from USD1.06 billion at the conclusion of the previous week.

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