Peso weakens vs the dollar; P52.10:US$1

The peso opened at P52.10 against the US dollar on Thursday, weaker than Wednesday’s P52.09 close. As of 12:10 p.m., the Philippine Stocks Exchange (PSE) reported that the Phisix index raised 15.85 points or .7394 % at 2, 159.37. The broader All shares was up 9.01 points or .6884 % 1,317.79. Financials was up 4.27 points or .6714 % at 640.24. Industrial increased 5.31 points or .1647 % at 3,229.13. Property was also up 10.84 points or 1.2025 % at 912.31. Services raised 11.84 points or 1.1483 % at 1,042.95. Mining & Oil was up 48.20 points or 1.6253 % at 3, 013.85. Dealer said the Philippine Long Distance Company recorded 1.34 % or P25 at 1,890 on 99,280 shares. Ayala Land ended up 2.27 % or .25 pesos at 11.25 on 15.2 million shares. Meanwhile, the Bangko Sentral ng Pilipinas (BSP)’s Monetary Board Committee is planning to increase their interest rate on February 9. This decision was made after the United States Federation on Tuesday raised its policy rate to 4.5 %. However, the BSP did not mention the specific amount of the interest rate they will implement. -GMANEWS.TV