PSEi barely moves despite glowing PH, US growth numbers

The Philippine Stock Exchange index was little changed on Friday as investors weighed positive gross domestic product data in the Philippines and the United States while foreigners continued with their aggressive buying. | miguelrcamusINQ /PDI

By the closing bell, the benchmark measure added 0.13 percent, or 9.46 points, to 7,052.16 while the broader All Shares index bumped up by just 0.13 percent, or 4.74 points, to 3,697.63.The Philippine economy expanded at a faster-than-expected pace of 7.6 percent last year. The US government, meanwhile, reported on Thursday that fourth quarter GDP also beat expectations amid looming worries over a global recession.

PSE subsectors were mixed on Friday with mining and oil, financials, holding firms and industrial moving higher while services and property stocks tumbled.

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