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Bacolod City, PhilippinesThursday, March 8, 2012
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Peso up vs. US dollar;
But stock rates down

MANILA – The Philippine peso improved against the US dollar yesterday but local stocks were down except for the mining and oil index.

The local unit gained P0.07 against the dollar after it ended the day at P42.87 from the previous day’s P42.94 finish.

Its closing rate is the local currency’s strongest for the day while its opening level of P43.08 is its weakest on yesterday’s trading.

Average level for the day stood at P42.98, weaker than day-ago’s P42.91.

Volume of trade went down to $973.31 million against the previous day’s $1.09 billion.

Meanwhile, profit taking again reigned in the local bourse resulting to the 42.03 points or 0.0266 percent change of the Philippine Stock Exchange index to 4,921.36 points.

The broader all shares index was down by 19.49 points or a change of 0.5827 percent to 3,325.32 points.

Only the mining and oil index was up to 25,324.40 points, a change of 68.72 points or 0.2721 percent.

Losers surpass the gainers at 108 to 61 while 40 were unchanged.

Some 3,768 billion shares changed hands while value of trade reached P7.903 billion.*PNA

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