Slower April inflation lifts stocks

MANILA, Philippines —  A slower inflation in April boosted investor sentiment, enabling the local stock market to reach its highest level in nearly four months.

The benchmark Philippine Stock Exchange index rose by 0.93 percent or 59.06 points to cap off yesterday’s session at 6,418.69, its highest since closing at 6,496.32 on January 10, 2025.

The broader All Shares index also increased by 0.72 percent or 26.86 points to 3,746.12.

“Philippine shares managed to resume their gains, driven by the better than expected CPI and more earnings releases,” Luis Limlingan of Regina Capital said.

“The April inflation print came in at 1.4 percent, which was the lowest in just over five years, as oil and food prices continued to moderate,” he said.

Last month’s inflation was the lowe t since the 1.2 percent booked in November 2019.

Limlingan said US stocks, meanwhile, slipped Monday as investor sentiment took a hit from trade deal uncertainty and Trump’s 100 percent tariff on foreign films, despite upbeat US services data and hopes for progress on global trade talks.

Net value turnover reached P5.5 billion.

All counters were in the green, except for financials, which slipped by 0.17 percent.

Services as well as mining and oil indexes were the biggest winners, surging by 3.52 percent and 2.63 percent, respectively.

Advancers edged out decliners, 97 to 95, while 46 issues were unchanged.

ICTSI was the top traded company, climbing by 6.11 percent to P375 per share, followed by Bloomberry with a 9.97-percent jump to P4.19.