Peso flat; stocks slip as investors take wait-and-see stance

MANILA – Investors’ wait-and-see stance on listed companies this earnings report season has resulted in the negative sentiments in the local bourse while the peso continued to show firmness against the US dollar.
The Philippine Stock Exchange index (PSEi) shed 0.52 percent, or 32.91 points, to 6,356.47 points.
All Shares went down by 0.51 percent, or 19.96 points, to 3,910.32 points.
Most of the sectoral gauges finished the day in the negative territory, led by the Property, which fell by 1 percent.
Financials slipped by 0.49 percent, Services by 0.36 percent, Holding Firms by 0.27 percent, and Industrial by 0.21 percent.
Only the Mining and Oil index gained during the day when it rose by 1.43 percent.
Volume totaled 1.88 billion shares amounting to PHP4.61 billion.
Losers led gainers at 119 to 83, while 51 shares were unchanged.
“Philippines shares ended on a weak note as attention focused on corporate earnings both at home and the US,” Regina Capital Development Corporation head of sales Luis Limlingan said, citing these profits reports are being gauged to check on the economy’s health.
Meanwhile, the peso ended the day’s trade at 48.381, sideways from its 48.39 close a day ago.
It opened the day at 48.37 and traded between 48.435 and 48.37.
Average level for the day stood at 48.408.
Volume amounted to USD643.5 million, higher than the previous day’s USD514.68 million. (PNA)

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