PH stock index returns to 8,300 level

The local stock barometer pulled back to the 8,300 level on Monday as investors digested the latest stream of local third quarter corporate earnings.

The main-share Philippine Stock Exchange index shed 103.46 points or 1.23 percent to close at 8,330.02 while sentiment across the region was mixed.

The day’s decline was led by the financial, holding firm, services, mining/oil and property counters, which all slid by over 1 percent.

Only the industrial counter managed to eke out a modest gain (+0.77 percent).

Value turnover for the day amounted to P8.22 billion.

There were 115 decliners that edged out 72 advancers while 49 stocks were unchanged.

The PSEi was weighed down most by Ayala Land and Semirara, which respectively fell by 2.97 percent and 3.13 percent. SM Investments also slid by 2.76 percent.

Megaworld lost 2.14 percent while PLDT, BDO and SM Prime all slipped by over 1 percent. Metro Pacific and Puregold also faltered.