Local bourse ends up, peso weakens

The Philippine stock index on Monday gained 86.76 points, or 1.16 percent, to close at 7,554.68.

Most sectors were in the green, with Properties leading the gainers up by 2.05 percent, followed by Services and Industrials up by 1.90 percent and 1.22 percent, respectively.

Financials was the biggest loser down by 0.46 percent, then Miners by 0.39 percent.

Puregold, pole position

Puregold Price Club Inc. was the top index gainer, surging 8.49 percent to P33.85, while Bank of the Philippine Islands was at the bottom, dropping 1.66 percent to P142.40.

“Philippine shares continued the momentum both from better than expected local CPI as well as the US employment to finish at a new high for 2024 at 7,554.68,” Regina Capital Development Corp. head of sales Luis Limlingan said.

He added that investors are readying for more data to be released this week, including the key US economic data CPI report, scheduled for Thursday.

“Additionally, several Federal Reserve officials have speaking engagements, with Vice Chairperson Philip Jefferson delivering remarks on both Tuesday and Wednesday and New York Fed President John Williams speaking on Thursday,” he said.

Meanwhile, other important local data releases include the September gross international reserves on Monday, the August unemployment rate on Tuesday, the August balance of trade and the July FDI figures on Thursday.

The net value turnover was P7.601 billion, with 129 advancers, 79 decliners and 49 names unchanged.

Ayala Corporation. was the most actively traded stock, at P852,356,575, up by 3.50 percent, followed by International Container Terminal Services, Inc. at P518,919,574, up by 2.14 percent.

The peso closed weaker at P56.825 to a dollar from 56.295 on Friday.

It opened the day at 56.64 and traded between 56.58 and 56.84.

The weighted average was 56.71.