Share prices close lower

Share prices on Friday dipped for the second straight session as investors locked in profits and reallocated funds for a string of maiden offers scheduled in the remaining months of the year.

The main-share Philippine Stock Exchange index shed 43.96 points, or 0.67 percent, to close at 6,539.81.

For the week, the local stock index gave up 68.02 points, or 1 percent.

The day’s biggest PSEi laggards were RLC, BPI and ALI, which all fell by over 4 percent.

All counters fell except for the property counter, which rose by 2.07 percent.

Value turnover was heavy at P10.05 billion.

There were 48 advancers against 94 decliners while 36 stocks were unchanged. Doris C. Dumlao