Stocks end lower

Philippine stocks slid Monday as investors stayed on the sidelines ahead of the government’s release of first-quarter growth figures later this week.

The benchmark Philippine Stock Exchange index (PSEi) was down 0.62 percent, or 48.64 points, to 7,761.53 while the broader all-shares index also lost 0.59 percent, or 26.72 points, to 4,466.82.

The decline was also reflected across all subindices, which closed in the red. The drop was led by services, down 1.1 percent, and property, off 0.86 percent.

A total of 115 companies closed in the red against 53 gainers while another 56 companies closed unchanged, data from the PSE showed. A total of 683.58 million shares changed hands for P6.93 billion.

Universal Robina Corp. led the list of decliners as it lost 1 percent to P199 a share yesterday. This was followed by Metropolitan Bank and Trust Co., down 0.64 percent to P93; Ayala Corp., down 0.56 percent to P806; Jollibee Foods Corp., unchanged at P211, and Megaworld Corp., down 3.66 percent to P5 a share. Miguel R. Camus