PSE INDEX IN SLIGHT DECLINE

The Philippine Stock Exchange (PSE) index appeared poised for a slight uptick but last-minute selling pressure spoiled it, in a day that saw net foreign selling of P1.27 billion that led to a slight decline of 11.77 points or 0.17 percent to 6,851.84 points.

Value turnover reached P8.8 billion with 136 decliners and 73 gainers, with 53 shares unchanged. The property sector, up 0.09 percent and the holding firms, up a similar 0.09 percent, cushioned the decline as the services were down 1.43 percent, mining and oil, 2.17 percent, financials, 0.39 percent, and industrials, 0.48 percent.

The top three active stocks were again the second liners, all of which posted losses. Basic Energy was down by P0.11 to P1.00 with trades of P1.54 billion.

It was followed by Apollo Global, which declined by P0.049 to P0.199 on trades of P1.08 billion; and then Premiere Horizon, which lost 21.centavos to P1.95.

Only five of the Top 20 most active stocks were up: Dito, up 16 centavos to P11.92; Metrobank, up 35 centavos to P46, even with foreign selling of P136 million; Ayala Corp up P25.50 to P800; Jollibee Foods, up P2.10 to P179, and Globe Telecom, up P10 to P2,014.00.

Property firms Ayala Land and SM Prime were unchanged at P38.80 and P35.80, respectively. Foreign buying amounted to P1.207, while foreign selling reached P2.483 billion.

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