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Market sentiment improves on AEV as Q1 profit more than triples

Market sentiment improves on AEV as Q1 profit more than triples
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Negative market sentiment drags down AC Energy stock

Negative market sentiment drags down AC Energy stock
bworldonline.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bworldonline.com Daily Mail and Mail on Sunday newspapers.

Stocks extend climb ahead of BSP policy review

​ PHILIPPINE SHARES continued to climb on Wednesday as the rise in global coronavirus cases slowed and on expectations that the central bank will keep rates low at its meeting today. The benchmark Philippine Stock Exchange Index (PSEi) rose by 16.6 points or by 0.23% to 7,082.15, while the all shares index increased by 10.88 points or 0.25% to 4,260.81. “The PSEi continued higher today as more investors turned optimistic, brought by a decline in new global COVID-19 cases. This renewed optimism has encouraged investors that were on the sidelines to take a second look at the market. Even foreign investors were net-buyers today after months and months of heavy selling,” AAA Southeast Equities, Inc. Research Head Christopher John Mangun said in an e-mail on Wednesday.

PSEi to move sideways on profit taking, BSP meet

Reporter SHARES are expected to move sideways this trading week as investors pocket their profits while they await the central bank’s decision at its first policy meeting for the year. The benchmark Philippine Stock Exchange index (PSEi) ended at 7,019.18 on Friday, higher by 115.43 points or 1.67% from its previous close of 6,903.75. On a weekly basis, the main index likewise improved by 406.56 points or 6.15%. The market’s average turnover fell 4.08% to P9.97 billion last week, while average net foreign selling declined 60.18% to P528.12 million. Timson Securities, Inc. Head of Online Trading Darren Blaine T. Pangan said in a mobile phone message that the market is projected to move sideways this week as investors are seen to book their profits ahead of the Bangko Sentral ng Pilipinas’ (BSP) policy meeting.

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