Shares close lower

Local share prices on Friday fell for the third straight day, tracking losses on Wall Street that had been sparked by fears over the struggling US economy.

The main Philippine Stock Exchange Index fell 37.13 points, or 0.86

percent, to 4,305.56 points, while the broader all-share index slipped by 0.17 percent, or 5.18 points, to 3,009.44.

All subindices closed in the negative led by mining & oil, which declined by an average of 1.33 percent. Property firms followed, shedding 0.89 percent.

Decliners outweighed advancers 88 to 46, while 39 stocks were unchanged.

On Wall Street, the benchmark Dow Jones Industrial Average dropped 1.51 percent on Thursday, while the Standard & Poor’s and Nasdaq indices fell 1.56 percent and 1.95 percent, respectively.  Paolo G. Montecillo