Quantcast
Latest Stories

Stocks fall on continued profit-taking



LOCAL stocks fell for a third session Friday as the recent surge to successive all-time high levels lured profit-taking.

The main-share Philippine Stock Exchange index slumped by 80.84 points or 1.4 percent to close at 5,707.11 as all counters were hit by heavy selling.

Earlier in the week, the PSEi marked a new all-time high closing of 5,831.50 on Dec. 11 and a record intra-day peak of 5,866.83 on Dec. 13.

The most battered counters were the financial, holding firm, services and property counters, which all slid by more than 1 percent.

Value turnover at the local bourse amounted to P12.77 billion. There were 71 advancers against 106 decliners while 34 stocks were unchanged.

The index was weighed down most by Ayala Land (-3.09 percent), Metrobank (-2.14 percent), Bank of the Philippine Islands (-2.07 percent), SM Investments (-1.92 percent), Aboitiz Power (-1.87 percent), Globe (-1.86 percent), Alliance Global Inc. (-1.8 percent), Megaworld (-1.75 percent), JG Summit (-1.52 percent) and Aboitiz Equity Ventures (-1.45 percent).

On the other hand, SM Prime and Energy Development Corp. were among those that bucked the downturn. Outside the index, those that gained in heavy volume were GTCap, D&L and Union Bank.

The day’s outperformer was TSI (+49.92 percent) on backdoor-listing speculation.

Elsewhere in the region, most stock markets firmed up on the back of a favorable manufacturing data in China. Doris C. Dumlao


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



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
Advertisement
Advertisement

News

  • 2 killed in apparent Bahrain car bombing
  • SC suspends proctor in 2011 bar exams
  • At barricades, Ukraine insurgents await Easter
  • Solons seek ample protection for bank depositors
  • Tragedies at sea: The Sewol and the Costa Concordia
  • Sports

  • Tottenham beats Fulham 3-1 in Premier League
  • Martino defends Messi, takes blame for Barca fail
  • Vettel hoping for resurgence at Chinese GP
  • MLB pitcher donates $100,000 for Sewol ferry victims
  • Hamilton takes pole at Chinese Grand Prix
  • Lifestyle

  • Levine designs womenswear with help from fiancee
  • Gabriel Garcia Marquez, Nobel laureate, dies at 87
  • Ford Mustang turns 50 atop Empire State Building
  • Pro visual artists, lensmen to judge Pagcor’s photo contest
  • ‘Labahita a la bacalao’
  • Entertainment

  • Myx TV premieres Asian American ‘docu-series’
  • A nutty finale for ‘Scandal,’ TV’s craziest show
  • EXO postpones release of mini album ‘Overdose’
  • ‘X-men’ filmmaker slams ‘fabricated’ sex attack claims
  • Singer Chris Brown’s bodyguard on trial in DC
  • Business

  • Fiat-Chrysler to produce iconic Jeep in China from 2015
  • US commerce secretary spells out economic facet of ‘pivot to Asia’
  • Italy sells luxury state cars on eBay
  • Asian shares mostly up in quiet trade
  • Dollar up in Asia on US jobs data, Ukraine deal
  • Technology

  • Nasa’s moon-orbiting robot crashes down
  • Netizens pay respects to Gabriel Garcia Marquez
  • Nokia recalls 30,000 chargers for Lumia 2520 tablet
  • Facebook rolls out ‘nearby friends’ feature
  • Netizens seethe over Aquino’s ‘sacrifice’ message
  • Opinion

  • Editorial cartoon, April 17, 2014
  • A humbler Church
  • Deepest darkness
  • ‘Agnihotra’ for Earth’s health
  • It’s the Holy Week, time to think of others
  • Global Nation

  • Cesar Chavez movie sparks memories of Fil-Am labor leaders
  • Filipinos in US poised for success
  • Visas for priests and other faith leaders
  • DOH to continue tracking co-passengers of OFW infected with MERS virus
  • 5 Filipinos with MERS in UAE reported in stable condition
  • Marketplace