Share prices on the Philippine Stock Exchange traded on a flat note Friday amid investors' caution ahead of the meeting of central bankers in Jackson Hole, Wyoming and the long weekend. The benchmark PSEi advanced by 10.21 points or 0.13 percent to 8,015.14 at the closing bell. The broader All Shares slightly gained by 9.26 points or 0.19 percent to 4,749.06. "Investors are on the sidelines ahead of the Jackson Hole meeting. The market is awaiting the insights on the global path of monetary policy from Fed's Janet Yellen and ECB's (European Central Bank) Mario Draghi," said Edgar Lay, equity analyst at AB Capital Securities Inc. "Investors are still expecting hawkish comments from Yellen and Draghi," Lay noted. Federal Reserve Chair Yellen and ECB President Mario Draghi are scheduled to speak on Friday at the Jackson Hole meet. Their speeches will be scrutinized for hints on the path of monetary policy, but neither of them is expected to give fresh guidance, a report on Reuters said. First Grade Finance Inc. managing director Astro del Castillo attributed the market's sluggish movement to the upcoming long weekend. Financial markets are closed on Monday, August 28, for the National Heroes' Day. Foreign funds bought P2.947 billion of shares during the session and sold P2.930 billion for a net buying position of P17.515 million. More than 1.774 billion shares, valued at P6.250 billion, changed hands. Advancers and decliners were 97 to 97, and 48 issues were unchanged. ? VDS, GMA News
08-26-2017, 10:41 PM
PSEi flat ahead of Jackson Hole, long weekend
Share prices on the Philippine Stock Exchange traded on a flat note Friday amid investors' caution ahead of the meeting of central bankers in Jackson Hole, Wyoming and the long weekend. The benchmark PSEi advanced by 10.21 points or 0.13 percent to 8,015.14 at the closing bell. The broader All Shares slightly gained by 9.26 points or 0.19 percent to 4,749.06. "Investors are on the sidelines ahead of the Jackson Hole meeting. The market is awaiting the insights on the global path of monetary policy from Fed's Janet Yellen and ECB's (European Central Bank) Mario Draghi," said Edgar Lay, equity analyst at AB Capital Securities Inc. "Investors are still expecting hawkish comments from Yellen and Draghi," Lay noted. Federal Reserve Chair Yellen and ECB President Mario Draghi are scheduled to speak on Friday at the Jackson Hole meet. Their speeches will be scrutinized for hints on the path of monetary policy, but neither of them is expected to give fresh guidance, a report on Reuters said. First Grade Finance Inc. managing director Astro del Castillo attributed the market's sluggish movement to the upcoming long weekend. Financial markets are closed on Monday, August 28, for the National Heroes' Day. Foreign funds bought P2.947 billion of shares during the session and sold P2.930 billion for a net buying position of P17.515 million. More than 1.774 billion shares, valued at P6.250 billion, changed hands. Advancers and decliners were 97 to 97, and 48 issues were unchanged. ? VDS, GMA News
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