Shares open flat, peso recovers vs dollar


Posted at Mar 07 2017 09:42 AM

MANILA – Share prices opened flat on Tuesday, as worries over US President Donald Trump weighed on world markets.

The Philippine Stock Exchange Index edged down 0.04 percent to 7,310.88. The peso opened stronger against the dollar at P50.34 from P50.395 on Monday.

“External uncertainties still abound. There’s still a bit more interest in the US versus the Philippines,” DA Market Securities analyst Nisha Alicer told ANC’s “Market Edge with Cathy Yang.”

Trump over the weekend accused his predecessor, Barack Obama, of spying without offering evidence. This raised concerns over his ability to push for tax reforms, analysts said.