Latest Stories

Most PH stock prices tumble amid profit-taking


Photo from pse.gov.ph

MANILA, Philippines—The local stock market retreated from record highs on Thursday as investors pocketed gains while a string of large equity deals and expectations of more equity offerings sapped some liquidity from the open market.

The main-share Philippine Stock Exchange index tumbled by 110.08 points or 1.61 percent to finish at 6,725.13.

Some large overnight equity deals, such as Ayala Land’s $300 million and RCBC’s $150-million stock deals, tempered the market’s rise as investors snapped up shares at a discounted offering instead of buying stocks at lofty prices. Others chose to stay liquid in anticipation of other upcoming block offerings, dealers said.

Across the region, profit-taking was likewise pervasive after two days of strong gains. Investors stayed on the sidelines in anticipation of further clues from major central banks on monetary policy. Investors were cautious ahead of the meetings of the central banks of Britain and the euro zone after the Bank of Japan kept its policy rates on hold.

At the local market, ALI (-5.63 percent) and AC (-4.10 percent) were the day’s most actively traded companies after its overnight equity deal. RCBC (not part of PSEi) also saw its share price decline by as market tracked the pricing of the overnight deal.

Turnover swelled to P23.87 billion because of recently concluded equity deals.

Metrobank fell by 4.25 percent despite announcing 2012 profit results that exceeded consensus. There was likewise profit-taking on AGI, SM Prime, PLDT, DMCI, Meralco, Semirara, EDC, Petron and MPI.

On the other hand, SM Investments bucked the downswing, rising by 1.64 percent.

All counters ended in the red but property was the most battered (-3.03 percent).

In the broader market, there were nearly twice as many decliners (109) as there were advancers (58).

Follow Us

Follow us on Facebook Follow on Twitter Follow on Twitter

Recent Stories:

Complete stories on our Digital Edition newsstand for tablets, netbooks and mobile phones; 14-issue free trial. About to step out? Get breaking alerts on your mobile.phone. Text ON INQ BREAKING to 4467, for Globe, Smart and Sun subscribers in the Philippines.

Tags: Business , stocks

  • NoWorryBHappy

    Most PH stock prices tumble amid profit-taking
    Ows ? Really ?
    “All counters ended in the red but property was the most battered (-3.03 percent).

Copyright © 2014, .
To subscribe to the Philippine Daily Inquirer newspaper in the Philippines, call +63 2 896-6000 for Metro Manila and Metro Cebu or email your subscription request here.
Factual errors? Contact the Philippine Daily Inquirer's day desk. Believe this article violates journalistic ethics? Contact the Inquirer's Reader's Advocate. Or write The Readers' Advocate:
c/o Philippine Daily Inquirer Chino Roces Avenue corner Yague and Mascardo Streets, Makati City, Metro Manila, Philippines Or fax nos. +63 2 8974793 to 94


  • Easterlies to prevail in Luzon, Visayas
  • Lacson eyes P106-B ‘Yolanda’ rehab masterplan
  • What Went Before: Malacañang allies alleged involvement in pork scam
  • Timeline: Napoles tell-all
  • 12 senators on Napoles ‘pork’ list, says Lacson
  • Sports

  • Mixers trim Aces; Painters repulse Bolts
  • Donaire junks Garcia as coach, taps father
  • ’Bye Ginebra: No heavy heart this time
  • UAAP board tackles new rules
  • Baguio climb to decide Le Tour de Filipinas
  • Lifestyle

  • No tourist draw, Malang the croc will remain wild
  • The best flavors of summer in one bite, and more
  • Homemade yogurt, bread blended with pizza, even ramen
  • Visiting chefs from Denmark get creative with ‘ube,’ ‘ buko,’ ‘calamansi,’ mangoes
  • Salted baked potatoes
  • Entertainment

  • Return of ‘Ibong Adarna’
  • Practical Phytos plans his future
  • In love … with acting
  • From prison to the peak of success
  • ‘Asedillo’ location thrives
  • Business

  • Apple increases stock buyback, will split stock
  • Cost-recovery provisions for affected gencos urged
  • This time, BIR goes after florists
  • Philippine Airlines to stop shipment of shark fins
  • PH banks not ready for Asean integration
  • Technology

  • No truth to viral no-visa ‘chronicles’
  • ‘Unlimited’ Internet promos not really limitless; lawmakers call for probe
  • Viber releases new design for iPhone, comes to Blackberry 10 for the first time
  • Engineers create a world of difference
  • Bam Aquino becomes Master Splinter’s son after Wiki hack
  • Opinion

  • Editorial cartoon, April 24, 2014
  • Talking to Janet
  • Respite
  • Bucket list
  • JPII in 1981: walking a tightrope
  • Global Nation

  • Filipinos in Middle East urged to get clearance before returning
  • PH seeks ‘clearer assurance’ from US
  • China and rivals sign naval pact to ease maritime tensions
  • What Went Before: Manila bus hostage crisis
  • Obama arrives in Tokyo, first stop of 4-nation tour
  • Marketplace