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Manila Bulletin devider Business devider The Stock Market devider PSEi spikes, peso rebounds after US-Iran agree to temporary ceasefire

PSEi spikes, peso rebounds after US-Iran agree to temporary ceasefire

Published Apr 8, 2026 04:59 pm
The Philippine Stock Exchange index (PSEi) rallied back to the 6,000 level on Wednesday, April 8, after the United States (US) and Iran agreed to a ceasefire, which led to a drop in oil prices.
The main index surged by 132.04 points, or 2.22 percent, to close at 6,089.91. Miners led the charge across the board, on the back of higher gold prices.
Volume jumped to 1.12 billion shares worth ₱8.3 billion. Gainers swamped losers—158 to 47, with 57 unchanged.
“The Philippine market closed significantly higher, driven by a sharp shift in global sentiment after the US and Iran agreed to a temporary two-week ceasefire, easing geopolitical tensions and boosting risk appetite,” said Regina Capital Development Corp. managing director Luis Limlingan.
This development also strengthened the peso and improved investor confidence, further supporting gains in the market.
Philstocks Financial Inc. research manager Japhet Tantiangco said, “The local market surged as the US-Iran two-week ceasefire fueled investors’ optimism. Persuaded by Pakistan, the US has suspended its attack on Iran’s critical infrastructures for two weeks subject to Iran completely opening the Strait of Hormuz.”
This caused global oil prices to plunge and the peso to strengthen against the US dollar, all contributing to the local market’s ascent.
Rizal Commercial Banking Corp. (RCBC) chief economist Michael Ricafort said the peso rose sharply against the dollar, improving by ₱0.90, or 1.5 percent, to close at ₱59.43 to the greenback, the best in nearly a month or since March 12, 2026.

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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