Services led sectoral gainers, climbing 1.23 percent, while Industrials were the lone decliner, down 0.61 percent.
BPI emerged as the day’s top index performer, jumping 2.76 percent to P89.50, while Monde Nissin fell 3.66 percent to P6.84. Investors also rotated into selected blue-chip stocks, including ICTSI, SM and Jollibee, following recent market weakness.
Peso’s slight rebound
Meanwhile, the peso strengthened to P61.58 per US dollar from Wednesday’s P61.74 close, marking its strongest finish in several sessions.
The currency traded between P61.45 and P61.665 intraday, while the Bankers Association of the Philippines weighted average improved to P61.616 from P61.725 previously.
The rebound came as the US dollar weakened globally after Treasury yields pulled back and risk appetite improved across Asian markets.
Markets interpreted Trump’s remarks on Iran negotiations as reducing the immediate risk of disruptions in the Strait of Hormuz, a critical shipping route that handles roughly 20 percent of global oil flows.
Oil prices consequently eased from recent highs, with Brent crude retreating from the $110-per-barrel level while West Texas Intermediate also moved lower.
Global forex markets also saw a modest pullback in the US dollar as investors took profits following its recent safe-haven rally.
Regional currencies, including the Korean won, Thai baht and Philippine peso, stabilized as geopolitical fears temporarily eased.
