PSEi ends below 6,800

The local stock barometer slipped below 6,800 Friday as a pullback in oil prices worried regional markets.

The Philippine Stock Exchange index (PSEi) lost 56.81 points or 0.83 percent to close at 6,792.06, declining for the first time in four sessions.

Across the region, stock markets tumbled, tracking a renewed slump in oil prices.

The index was dragged lower by the services and property counters, which both lost more than 1 percent, while the financial, holding firm and mining/oil counters also slipped.

Only the industrial counter managed to gain modestly.

Total value turnover for the day amounted to P6.52 billion. There were 103 decliners, which overwhelmed 68 advancers, while 45 stocks were unchanged.

The PSEi was led lower by Ayala Land Inc. and SM Investments Corp., which tumbled by more than 2 percent, while Jollibee, PLDT and SM Prime all lost more than 1 percent.

Universal Robina Corp., BDO Unibank, Metrobank, GT Capital, Ayala Corp., Alliance Global Group Inc. and BPI also slipped.

Outside of PSEi, Melco Philippines slid by 10.6 percent as investors sold on news about the fourth-quarter earnings of City of Dreams Manila.

DNL also fell by more than 1.16 percent.

On the other hand, Lopez-led First Gen rose by 3.94 percent while LPZ also surged by 5.09 percent. Petron gained 2.79 percent on upbeat earnings prospects for 2016 while ICTSI and Metro Pacific Investments Corp. slipped. Doris Dumlao-Abadilla