Mikhail Plopenio News Today

Stock prices closed lower for a third straight session as investors stayed on the sidelines in search for fresh leads.

The currency strengthened by 18 centavos to P55.57:$1. It opened trading at P55.78:$1 and ranged from P55.57 to P55.785, with volume dropping to P841 million from the previous days P1.592 billion.

THE peso fell further on Tuesday, but the stock market rallied to return to the 6,500 level.

THE peso regained some ground, and the stock market also snapped a three-day slide ahead of widely awaited monetary policy meetings.

The currency strengthened by 2 centavos to P55.32 against the dollar while the benchmark Philippine Stock Exchange index (PSEi) advanced by 24.58 points, or 0.39 percent, to 6,308.95.

THE peso recovered on Thursday, but the stock market edged lower as investors took the opportunity to take profits.

The currency strengthened by 3-and-a-half centavos to P55.79 against the dollar, while the benchmark Philippine Stock Exchange index added 20.35 points, or 0.33 percent, to close the day at 6,191.48.

BETTER-THAN-EXPECTED third quarter growth lifted both the peso and stock market on Thursday, with the currency closing in P55:$1 territory and the bourse up by a little over half a percent.

THE stock market fell below 6,000 during intraday trade and closed at a new low for the year on Wednesday as investors anticipated an off-cycle Bangko Sentral ng Pilipinas (BSP) rate hike.

The peso closed up anew on Thursday and the stock market also edged higher as investors readied for the release of US inflation data.