The Philippine Stock Exchange Index on Friday closed at 5,621.94, down 31.22 points as investors weigh dimmer growth prospects as hinted by the first-quarter economic figures reported on Thursday.
Philstocks Financial said investors traded cautiously as government expressed concern the gross domestic product would likely contract further in the second quarter of the year.
Manila Water Co. Inc. rose 8.6 percent to P12.70 after the company reported a four-percent increase in first-quarter net income while parent Ayala Corp. climbed 6.3 percent to P704.
Meanwhile, moves to ease lockdown measures and reopen economies around the world fired world equity markets Friday as investors looked past a string of depressing data suggesting the planet is heading for its worst downturn since the Great Depression. With AFP
