Share prices close lower

Share prices on Wednesday slightly dropped on very thin trade as fresh concerns over Europe’s debt weighed on trade.

The main-share Philippine Stock Exchange index shed 4.85 points, or .01 percent, to close at 5,017.44. The main index trimmed larger losses seen earlier in the day, but all counters still closed in negative territory as a spike in Spain’s borrowing cost rekindled debt concerns in Europe.

Value turnover amounted to P3.71 billion, about half the average daily turnover seen in the first quarter.

There were only 44 advancers against 117 decliners while 39 stocks were unchanged.