Share prices close lower
The local stock index slipped on Friday as investors consolidated recent gains.
The main-share Philippine Stock Exchange index fell by 9.82 points, or 0.14 percent, to close at 6,762.62 as investors reassessed their portfolio due slowing economic growth and rising inflation.
Across the region, Asian equities were hardly stirred by the European Central Bank’s monetary stimulus.
The market was weighed down by the financial, holding firm, services and property counters, while the industrial and mining/oil counters firmed up.
Value turnover for the day amounted to P7.83 billion. There were 74 advancers against 95 decliners, while 48 stocks were unchanged.
Investors pared down interests in Megaworld, PLDT, ALI, AGI, Metrobank, AC and MPI. Outside of PSEi stocks, there was profit-taking on DAVIN (+14.93 percent). Doris C. Dumlao
