PSE Index Down

The Philippine Stock Exchange (PSE) index today declined by 47.42 points or 0.75 percent on profit-taking even as corporates posted ever-higher third-quarter earnings that for a while saw the index rise.

Photo Insert: The Philippine Stock Exchange (PSE) Index, November 9, 2022

But, the sell-down stopped the surge with the top five most active stocks declining in their share prices and value turnover nearing its daily average with trades of P5.56 billion.

Only the industrials and the holding firms bucked the decline posting gains of 0.39 percent and 0.11 percent respectively with the mining and oil sub-index as well as the property posting losses of 2.72 percent and 2.07 percent. Services lost 2.00 percent, and the financials were down by 0.38 percent.

BDO Unibank, Semirara Mining, Bank of PI, market bellwether SM Investments and PLDT, closed lower on investors pocketing their gains.

BDO lost P1.50 to P132 on trades of P691 million, Semirara, down by P2 to P29.50 on trades of P521 million, BPI, down 20 centavos to P94.80, on trades of P417 million, SM Investments, down P2 to P831 on trades of P332 million and PLDT down P72 to P1,520 on trades of P319 million.

Metro Pacific posted core income of P11.8 billion, up a fourth but it closed at 2 centavos lower at P3.55 after hitting a high of P3.61, while Megaworld, which reported a 12 percent gain in its third quarter income closed 3 centavos lower to P2.02 after hitting a high of P2.07.

Jollibee Foods, however, gained P4.40 to P233 after hitting system-wide sales of P77.8 billion and making a 64.8 percent rise in its income to P8.2 billion. Emperador also gained 14 centavos to P19.80 while Universal Robina was unchanged at P125.

Among the gainers were LFM Properties, a property stock that had its IPO today by way of introduction, which closed at P0.205, up by 0.098 or 91.89 percent to top the gainers while Monde and Converge continued their price slide to P12, down by 2 centavos and P11.10, down by 28 centavos respectively.

Ayala Land was up by 5 centavos to P26.05 while SM Prime was down P1.40 to P33.30. Globe Telecom rose by P28 to P2,298 while DM Consunji went down by 22 centavos to P9.21, and Aboitiz Equity rose by a peso to P57.30.

There were 84 gainers, 95 losers, and 39 shares unchanged.

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