PSEi gains 69 points on Taal volcano lull

The Philippine Stock Exchange index (PSEi) firmed up on Friday, January 17, 2020, gaining 69.4 points or 0.91 percent to close at 7,722.58, as surface activity in Taal Volcano appeared to have calmed.

Investors expressed relief that Taal was in a lull, although it remained on high alert, easing concerns about potential consumer price pressures and the impact on the real estate market in affected areas like Tagaytay.

All stock market counters ended higher on Friday, led by financial, industrial, and mining/oil sectors.

Total value turnover for the day amounted to P6.27 billion, with domestic investors supporting the market against net foreign selling.

Jollibee led the PSEi higher, surging by 6.27 percent after boosting its capital with $600 million from perpetual securities.