PSEi slips after 3-day rise | Inquirer Business

PSEi slips after 3-day rise

/ 06:39 PM November 19, 2014

AFP FILE PHOTO

AFP FILE PHOTO

MANILA, Philippines—The local stock index dipped following a three-day run-up, with investors pocketing gains as the index neared a key barrier at 7,300 level.

The main-share Philippine Stock Exchange index gave up 6.17 points or 0.08 percent to close at 7,269.49, weighed down by profit-taking on holding firms and property counters.

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Turnover amounted to P7.9 billion.

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There were 84 advancers against 98 decliners while 42 stocks were unchanged.

The day’s gains were led by Andrew Tan-led stocks Megaworld (+1.61 percent) and AGI (+1.06 percent). Megaworld was the day’s most actively traded stock.

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Jollibee, BDO, Bloomberry, URC, EDC and AP also contributed to the day’s gains.

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One notable gainer among non-PSEi stocks were Security Bank (+2.83 percent), which posted stronger-than-expected operating results in the third quarter. Lucio Co-led Puregold (+0.54 percent) and Cosco (+0.38 percent) also firmed up in heavy trade alongside fellow retailer RRHI (+0.14 percent).

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On the other hand, there was profit-taking on GTCAP (-3.96 percent) and FGEN (-2.1 percent). PLDT, Globe, ALI, JG Summit and SM Prime also slipped.

Among non-PSEi stocks, one notable decliner was Vista Land which fell by 1.9 percent.

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TAGS: AGI, Andrew Tan, AP, BDO, Bloomberry, cosco, EDC, Investors, jollibee, local stock index, Lucio Co, Megaworld, Philippine Stock Exchange, PSEi, puregold, Security Bank, URC, Vista Land

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