Stocks, peso rise on Tuesday

Both the local shares and currency gained Tuesday after a slip in the previous day’s trading, according to a report by Philippine News Agency.

The Philippine Stock Exchange index (PSEi) inched up by 0.04 percent to 6,252.19, and the broader All Shares improved by 0.14 percent to 3,686.23 level.

Sectoral indices were mixed with Industrial, Financials, and Mining and Oil gaining 1.77 percent, 1.34 percent, and 0.85 percent, respectively.

On the other hand, Services, Property, and Holding Firms declined by 1.65 percent, 1.42 percent, and 0.10 percent, respectively.

Advancers led decliners at 92 to 77, with 66 counters left unchanged.

Regina Capital Development Corp. head of sales Luis Limlingan traced to earnings reports of listed firms, economic data, and trade developments the performance of the local bourse since Monday.

He said among the factors expected to drive this week's trading in the local stocks market include the March budget balance, the trade balance, exports, imports, Producer Price Index, and the April S&P Global Manufacturing Purchasing Managers' Index. 

Meanwhile, Philippine peso closed stronger against the greenback after gaining PHP0.27 to 56.15 from its 56.42 close in the previous day.

It opened the day sideways at 56.33, before trading between 56.10 and 56.35 to the dollar. The average level for the day stood at 56.25.

Volume of trade went up to USD1.78 billion from USD1.57 billion a day ago.