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Manila Bulletin devider Business devider The Stock Market devider PH stocks end week higher on US-UK trade deal

PH stocks end week higher on US-UK trade deal

Published May 9, 2025 04:55 pm
The local stock market ended the week higher as investors cheered to announcement of a trade deal between the US and the UK.
The main index jumped 68.71 points or 1.08 percent to close at 6,458.20 as Conglomerates led the advance while Miners declined with weaker gold prices. Volume grew to 738 million shares worth P7.95 billion as gainers trounced losers 105 to 56 with 84 unchanged.
“Philippine shares rose following President Donald Trump’s unveiling of a trade deal framework with the UK, the first significant agreement since the U.S. imposed preemptive tariffs,” said Regina Capital Development Corporation Managing Director Luis Limlingan.
The deal, which includes a 10 percent baseline tariff, also signaled the possibility of higher tariffs for other nations with large trade surpluses.
Philstocks Financial Research Manager Japhet Tantiangco said “The local market rose on the back of positive spillovers from Wall Street driven by the prospects of trade negotiations with the US following significant progress on the US - UK trade deal.”
“Hopes of further monetary policy easing by the BSP following the Philippines' slow April inflation print and below target first quarter GDP growth also drove today's positive sentiment,” he added.
Rizal Commercial Banking Corporation Chief Economist Michael L. Ricafort said the PSEi rose “amid market optimism after dovish signals from local monetary officials earlier this week on possible additional -0.75 local policy rate cuts for the rest of 2025” and the stronger peso.

Related Tags

Philippine Stock Exchange index Regina Capital Development Corporation Luis Limlingan Philstocks Financial Japhet Tantiangco Rizal Commercial Banking Corporation Michael L. Ricafort
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