Stocks up on Covid-19 vax optimism as peso ends sideways

MANILA – The local stock barometer ended Monday higher, boosted by reports about the deliveries of coronavirus disease 2019 (Covid-19) vaccines within the first quarter while the peso sustained its sideways close against the greenback.
After a four-day slide last week, the Philippine Stock Exchange index (PSEi) rose by 3.06 percent, or 202.14 points, to 6,814.76 points.
All other counters also ended the day with gains, with All Shares up by 2.40 points, or 96.34 points, to 4,103.67 points.
The Property index rose by 4.57 percent; Financials, 3.15 percent; Services, 3.12 percent; Mining and Oil, 3.05 percent; Industrial, 2.14 percent; and Holding Firms, 1.83 percent.
Volume totaled 32.11 billion shares amounting to PHP9.98 billion.
Gainers led losers at 130 to 82, while 45 shares were unchanged.
“Philippine shares began February on a more upbeat tone closing above 6,800 as the GameStop ruckus and vaccine news that stressed the market slowly dissipated to make way for earnings releases and the latest inflation data,” Luis Limlingan, Regina Capital development Corporation head of sales, said.
Limlingan also cited as a positive factor the news that the Philippines is scheduled to receive around 5.6 million doses of Pfizer and AstraZeneca Covid-19 vaccine under the COVAX Facility within the quarter.
Meanwhile, the peso ended the day sideways against the US dollar at 48.065 from 48.08 Friday last week.
It opened the day at 48.06 from the previous session’s 48.07.
It traded between 48.077 and 48.05, resulting in an average of 48.062.
Volume totaled USD787.95 million, higher than Friday’s USD685.7 million. (PNA)

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