PSEi slips after 3-day rise

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.

Turnover amounted to P7.9 billion.

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.

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

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).

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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