Stocks end lower

The local stock barometer slipped yesterday as regional markets were spooked by a decline in oil prices.

The Philippine Stock Exchange index (PSEi) lost 35.3 points or 0.49 percent to close at 7,219.23. Across the region, stock markets were mostly sluggish as oil prices faltered.

At the local market, the decline was led by the property counter, which fell by 1.16 percent, while the industrial, holding firm and

mining/oil counters also faltered. The financial and services counters slightly gained.

Total trade at the local bourse amounted to P5.78 billion. There were 124 decliners, which overwhelmed 63 advancers, while 42 stocks were unchanged.

The PSEi was weighed down most by ICTSI, which slumped by 2.58 percent, while Ayala Land, SM Prime, Metro Pacific Investments Crop. and Megaworld all declined by more than 1 percent. BDO, SM Investments Corp., Metrobank and Ayala Corp. all declined.

Outside of the PSEi, there was profit-taking on NOW (-3.49 percent) and Security Bank (-0.23 percent) while IS slid by 11.94 percent.

On the other hand, Jollibee, PLDT, Globe, Robinsons Land and BPI bucked the day’s downturn, all gaining more than 1 percent. Other notable gainers outside the PSEi were Xurpas (+3.41 percent) and Puregold (+1.79 percent). Doris Dumlao-Abadilla