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Manila Bulletin devider Business devider The Stock Market devider Stocks flat before US inflation report

Stocks flat before US inflation report

Published May 14, 2024 09:01 am

The local stock market was slightly higher as investors wait for the US inflation numbers and results of the Bangko Sentral policy meeting.

The main index eked out a 4.11 point or 0.06 percent gain with sectoral indices evenly split. Volume amounted to 498 million shares worth P4.92 billion as losers edged out gainers 98 to 94 with 39 unchanged.

“Philippine shares ended Tuesday's trading session in the green as investors looked ahead into the MSCI rebalancing announcement and anticipated key US inflation reports,” said Regina Capital Development Corporation Managing Director Luis Limlingan.

Philstocks Financial Research and Engagement Officer Mikkhail Plopenio said the local market inched up as investors hunted for bargains. "Investors maintained a cautious stance however while waiting for the Bangko Sentral ng Pilipinas’ policy decision later this week leading to a struggle for the market to find direction,” said Plopenio.

He added that, “The digestion of the first quarter 2024 corporate earnings helped in bringing the local market to a positive close.”
 

Related Tags

Philippine Stock Exchange index (PSEi) Regina Capital Development Corporation Luis Limlingan Mikhail Philippe Plopenio Philstocks Financial
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