Stocks end lower

PHILIPPINE stocks sank yesterday, weighed down by declines across the region and a weak finish in Wall Street overnight.

The benchmark Philippine Stock Exchange Index (PSEi) dropped 0.4 percent, or 27.65 points, to 6,820.60, while the broader all-shares index was also down 0.48 percent to 3,933.03.

Sub-sectors were also mainly in the red, with losers led by services, down 1.92 percent, and financials, down 0.6 percent. Only mining and oil closed in the green, or up 0.01 percent.

A total of 1.1 billion shares valued at P6.5 billion changed
hands, data from the PSE showed. Losers led gainers, 110 to 45, while another 54 companies closed unchanged.

Fast-food giant Jollibee Foods Corp. was the most actively traded company yesterday as it fell 0.47 percent to P209.6 a share.

This was followed by Ayala Land Inc., up 2.37 percent to P34.60p; Universal Robina Corp., down 0.65 percent to P184.60; Puregold Price Club Inc., unchanged at P34, and International Container Terminal Services Inc., up 0.56 percent to P71.40 a share. Miguel R. Camus