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Manila Bulletin devider Business devider The Stock Market devider PSEi lower as oil rose after US-Iran talks failed

PSEi lower as oil rose after US-Iran talks failed

Published Apr 13, 2026 04:51 pm
The Philippine Stock Exchange index (PSEi) declined on Monday, April 13, after hopes for an early resolution of the Middle East conflict were dashed because the United States (US)-Iran talks failed and US President Donald Trump issued more threats.
The main index lost 44.16 points, or 0.72 percent, to close at 6,054.05. Banks led the retreat, although the services sector bucked the trend.
Volume increased to 789 million shares worth ₱7.8 billion. Losers outnumbered gainers—121 to 82, with 69 unchanged.
“Philippine equities closed in the red as renewed geopolitical tensions in the Middle East dampened investor sentiment,” said Regina Capital Development Corp. managing director Luis Limlingan.
The price of crude oil has already surged above $100 per barrel following the announcement, raising inflation risks and weighing on risk assets globally.
Philstocks Financial Inc. research manager Japhet Tantiangco said, “The market pulled back as worries over the war in the Middle East resurfaced. This comes as the US and Iran failed to reach a deal in their meeting last weekend followed by Trump ordering the US Navy to blockade the Strait of Hormuz.”
Rizal Commercial Banking Corp. (RCBC) chief economist Michael Ricafort said the blockade could potentially increase tensions with Iran and jeopardize the fragile two-week ceasefire.

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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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