Shares up a tad after inflation eases

The Philippine stock market on Monday ended in green, climbing by 48.16 points, or 0.69 percent, to close at 6,984.25.

Sectors were split, with Banking increasing the highest at 1.36 percent, followed by Properties up by 1.17 percent, and Holding Firms by 1.06 percent.

Miners and Industrials on the other hand, were in red , down by 0.83 percent and 0.08 percent, respectively.

Top performers

Among shares, Ty conglomerate GT Capital Holdings, Inc. was the top gainer, jumping 3.68 percent to P705.00. Meanwhile, Consunji-led DMCI Holdings, Inc. lost the biggest, declining by 1.37 percent to P11.54.

The most actively traded stocks were BDO Unibank, Inc. up by 1.59 percent, Security Bank Corporation up by 8.91 percent, and Universal Robina Corporation up by 0.72 percent.

Philstocks Financial Inc. senior research analyst Japhet Tantiangco linked the local bourse’s performance to August inflation data and the increasing likelihood of the Federal Reserve starting with their monetary easing in their policy meeting next week.

The net market value turnover was. P6.76 billion. Decliners outnumbered Advancers at 104 to 96, while 50 names remain unchanged.

The peso closed at P55.90 from a dollar.