Stocks Inch Lower on US Credit Rating Downgrade - BusinessWorld Online

US credit rating downgrade

US credit rating downgrade

US credit downgrade spooks Philippine stock investors

MANILA, Philippines – News of Moody’s downgrading the United States’ credit rating for the first time in history upset investors at the local bourse on Monday. While it had opened positively, the benchmark Philippine Stock Exchange Index (PSEi) settled at 6,454.84 by the closing bell, down 0.17 percent, or 10.69 points. READ: PSEi dips slightly,

Bloomberg Businessweek Daily: US Credit Downgrade Aftermath

Carol Massar and Tim Stenovec bring together the latest news from the world of business and finance and the interesting stories.

Stocks Trade Lower After Moody’s Downgrades US Credit Rating

Nevertheless, Moody’s praised the Federal Reserve for its conservative management of the country’s interest rate.

Stocks inch lower on US credit rating downgrade - BusinessWorld Online

PHILIPPINE SHARES slipped on Monday as investors monitor the potential impact of Moody’s move to downgrade the United States’ credit rating. The bellwether Philippine Stock Exchange index (PSEi) inched down by 0.16% or 10.69 points to close at 6,454.84, while the broader all shares index dropped by 0.09% or 3.71 points to 3,765.66. “The PSEi ended the trading session slightly lower, reflecting the local market’s tepid reaction to Moody’s credit …

PH stocks ignore US credit rating downgrade

The PSEi dipped only slightly despite a credit rating downgrade for the US by Moody’s. The main index shed 10.69 points or 0.17 percent to close at 6,454.84 with sectoral indices evenly mixed. Volume was firm at 755 million shares worth P6.19 billion as losers outnumbered gainers 109 to 86 with 49 unchanged. “Philippine shares kicked off the week on a muted note, as the local market continued to digest corporate earnings and monitor potential po…