MANILA -- The local bourse sustained its rise and the Philippine peso further appreciated to a US dollar yesterday still on investors anticipation for further easing in the European Central Bank's (ECB) monetary policy.

The main index rose 0.20 percent or 14.11 points to 7,160.46 points.

All the sectoral indices tracked the main index led by the industrial index, which grew 0.39 percent or 42.42 points to 10,987.17 points.

Trading volume reached 2.36 billion amounting to P10.92 billion.

Gainers led losers at 90 to 79 while 48 were unchanged.

Relatively, the local currency gained P0.11 after finishing the day at P43.66 from P44.77 a day ago.

A trader said further easing of monetary policy in Europe will translate to higher inflows to emerging markets such as the Philippines.

”This made investors' prospects of the economy in Asia in general rosier,” a trader told PNA in an interview.

For the day, the peso started at P43.76, an improvement from the P43.83 a day ago.

Its opening level is the local unit's weakest for the day after it strengthened further to P43.65.

This brought the day's average to P43.69, an appreciation from the P43.79 in the previous trading.

Today the peso is expected to trade between P43.70 and P43.90.*PNA

back to top