Native shares finish week within the pink

MANILA  -The Philippine Inventory Trade index (PSEi) wrapped up one other week on a nasty observe after buying and selling within the pink for 2 straight days, nonetheless hounded by the US authorities’s debt ceiling challenge which prompted many traders to take income.

The benchmark PSEi dropped by 0.46 p.c, or 30.02 factors, to settle at 6,530.20 whereas the broader All Shares index fell by 0.25 p.c, or 8.71 factors, to shut at 3,488.08.

Claire Alviar, Philstocks Monetary Inc. assistant supervisor for analysis and on-line engagement, stated “traders booked extra positive factors on the final buying and selling day of the week to keep away from any uncertainties over the weekend, notably with the continued worries over the US debt ceiling.”

Regina Capital Growth Corp. head of gross sales Luis Limlingan stated, “Wall Road nonetheless continues to look at developments on the debt ceiling negotiations, and in addition because the MSCI rebalancing closes in.”

Practically all PSE subsectors had been in pink territory, with providers sustaining the most important drop of 1.25 p.c. Solely mining and oil gained, albeit solely barely at 0.15 p.c.

Some 1.04 billion shares valued at P4.6 billion had been merchants. Losers outnumbered winners, 98-79, whereas 37 points had been unchanged.

Among the many most actively traded shares, Robinsons Land Corp. shed essentially the most, lowering by 2.58 p.c to P14.36 every. Worldwide Container Terminal Companies Inc. decreased by 2.50 p.c to P195 apiece.

Petron Corp. gained 10 p.c to finish at P4.65 every whereas AgriNurture Inc. inched up by 0.55 p.c to P7.32 every. SM Investments Corp. rose by 0.44 p.c to P920 apiece.

Three different companies noticed their share costs decline: Ayala Land Inc. (down by 0.38 p.c to P25.90), Ayala Corp. (0.80 p.c to P686) and Financial institution of the Philippine Islands (2.43 p.c to P100.50).

BDO Unibank Inc. and SM Prime Holdings Inc. remained flat at P135 and P34, respectively.

—Jordeene B. Lagare

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