Stocks end lower on Greek debt woes
The local stock barometer slipped Monday as the collapse of negotiations on Greek debt spooked regional markets.
The main-share Philippine Stock Exchange index (PSEi) lost 47.56 points or 0.63 percent to close at 7,456.16. Across the region, stock markets were mostly in the red following the breakdown of Greek debt talks, which thus raised the risk of debt default and a eurozone break-up.
At the local market, all counters ended lower. The industrial counter, which tumbled 1.09 percent, was the most battered sub-index.
Value turnover for the day amounted to P7.5 billion. There were 72 advancers, which were edged out by 91 decliners, while 56 stocks were unchanged.
The PSEi was weighed down most by Universal Robina Corp., SM Prime and Globe Telecom, the three most actively traded companies, which all slid more than 2 percent.
Banking stocks BDO Unibank and Metrobank also tumbled while Ayala Land, ICTSI, Jollibee and Energy Development Corp. also slumped.
On the other hand, Bloomberry rose by 3.06 percent while DMCI gained by 1.64 percent. GT Capital, Ayala Corp., SM Investments Corp. and Alliance Global Group Inc. also advanced.
Outside of PSEi stocks, one notable gainer was FNI, which surged by 7.14 percent. Robinsons Retail Holdings Inc. also gained 1.78 percent. Doris Dumlao-Abadilla
