Market finishes the week with a positive note

The stock market ended the week positively, driven by favorable signals from the US markets. The Philippine Stock Exchange index closed above 6,900, gaining 0.15 percent or 10.06 points to settle at 6,913.21. The broader All Shares index also increased by 0.17 percent or 6.29 points to finish at 3,608.12.

Market analyst Claire Alviar highlighted that the local bourse reached its highest point in 2024 at 6,990.65 before profit-taking activities moderated the gains towards the end of the session. She attributed the optimistic market sentiment to the strong performance of US markets and positive outlook on the Philippine economy.

Regina Capital’s Luis Limlingan noted that Philippine equities saw moderate gains following better-than-expected earnings from Nvidia. Industries like industrial and property sectors saw a growth of 0.55 percent and 0.40 percent, respectively, while mining and oil and holding firms experienced declines of 0.86 percent and 0.33 percent, respectively.

Total value turnover for the day was recorded at P4.54 billion, indicating active trading among investors. Optimism continues to prevail in the market due to positive cues from the US and local economic forecasts.

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