PSEi gains 79 pts. on last day of trading week

The Philippine stock market ended the trading week in green, increasing by 79 points, or 1.07 percent, to close at 7,467.92.

Most sectors climbed, with Industrials leading the green territory, gaining by 1.93 percent, followed by Banking and Holding Firms up by 1.50 percent and 1.17 percent, respectively.

Meanwhile, Properties and Miners finished in red shedding by 1.02 percent and 0.7 percent, respectively.

Monde Nissin Corporation was the top index gainer, jumping by 6.51 percent to P10.80. Wilcon on the other hand, was the main laggard, down by 2.64 percent to P16.94.

“Philippine shares were bought up towards closing as investors were positively surprised by the latest Ph CPI print for September, which came in at just below 2 percent, giving the monetary authority greater control on when to relax interest rates,” Regina Capital Development Corp. head of sales Luis Limlingan said in a Viber message.

US stocks, on the other hand, dropped on Thursday following Middle East tensions and an upcoming payroll report keeping investors cautious, he added.

“Markets remain volatile after Iran’s missile strike on Israel and Israel's ground operations in Lebanon. Weekly jobless claims exceeded forecasts, hinting at labor market uncertainty ahead of Friday’s payroll report,” Limilingan said, adding the oil prices continued to rise amid fears that Israel could target Iran's oil sector in retaliation for Tehran's ballistic missile attack earlier this week.

The net market value turnover was P5.916 billion, with winners edging losers at 107 to 87, while 52 names remained unchanged.

BDO Unibank Inc. was the most actively traded stock at P920,475,291, up by 0.70 percent; followed by Ayala Land Inc. at P577,825,785, down by 1.60 percent.

The peso closed stronger at P56.295 to a dollar from P56.37 on Thursday. It opened at 56.38 and traded between 56.23 and 56.4. The weighted average was 56.346.