THE peso fell for a third straight day on Wednesday, hitting a fresh 19-month low, while the stock market rebounded following lower-than-expected May inflation. The currency weakened by 7 centavos to P58.78 to the dollar, its lowest close since Nov. 3, 2022's P58.80. The benchmark Philippine Stock Exchange index, meanwhile, returned to the 6,400 level with a 54.9-point or 0.86-percent gain to 6,441.32. Managing Director Luis Limlingan, meanwhile, said "Philippines shares rebounded from prior losses, mirroring the move of the US equities in its last session and shrugging off the uptick in headline inflation this morning." Mining and oil, and industrials were the only decliners, down 0.57 percent and 0.05 percent, respectively.

Source: Manila Times June 06, 2024 13:16 UTC