PSEi ends lower

The local stock barometer faltered Monday as investors consolidated gains from large-cap stocks.

The main-share Philippine Stock Exchange index (PSEi) declined by 35.92 points or 0.52 percent to close at 6,811.34. The weakness was led by the services and mining/oil counters, which both fell more than 1 percent.

Despite the main index decline, there were slightly more advancers (89) than decliners (86) as investors turned to second- and third-liner stocks. Value turnover for the day amounted to P8 billion.

Investors snapped up shares of non-PSEi stocks like Century Pacific (+4.44 percent) as well as banking issues RCBC (+6.36 percent), Security Bank (+1.47 percent) and PNB (+1.1 percent). Newly listed property firm Double Dragon (+1.78 percent) likewise remained as a hot stock. Doris C. Dumlao