Philippine shares gain as global markets recover

Philippine shares ended Thursday with gains, snapping a three-day losing streak as global markets rebounded due to recovering oil prices.

The PSEi climbed 25.80 points or 0.46% to close at 5,599.55, while the broader all shares index added 20.64 points or 0.6%.

Regina Capital Development Corp.'s Luis Limlingan attributed the market rally to crude oil's rebound and positive sentiment from US Treasury Secretary Steven Mnuchin’s comments about reopening parts of the economy by August.

The peso also strengthened against the dollar, closing at 50.67 from 50.8 in the previous day.