PSEi slips for 5th session

THE LOCAL stock barometer slipped for the fifth session in a row on Tuesday, tracking lackluster regional markets just as the second quarter corporate reporting season ended.

The Philippine Stock Exchange index lost 3.39 points or 0.05 percent to close at 7,333.45.

The day’s decline was led by the financial, industrial, holding firm and mining/oil counters while the services and property firms slightly firmed up.

Value turnover was thin at P5.22 billion. There were 61 advancers which were overwhelmed by 103 decliners while 42 stocks were unchanged.

The PSEi was led lower by Megaworld, which fell by 4.68 percent while parent firm AGI slipped by 3.14 percent. Metrobank also slipped by 2.49 percent while parent conglomerate GTCAP fell by 1.22 percent.

MPIC, JG Summit and BPI also contributed to the day’s decline.

Outside of the PSEi, Puregold (-3.66 percent) and RRHI (-0.41 percent) declined in heavy volume.

On the other hand, Bloomberry rebounded by 2.86 percent. In the last few days, this gaming firm had taken a heavy beating after reporting its first semester results, which posted a net loss of P1.3 billion.

URC, PLDT, BDO and AC all firmed up by over 1 percent while ALI and Globe also contributed to the day’s gains.