Shares down, peso hit five-month low

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Share prices closed lower Monday on profit-taking.

The peso closed lower.  The currency hit its lowest level since November 2, with the country’s inflation basket likely to be the most sensitive to the recent spike in oil prices, according to analysts at Barclays.

The Philippine Stock Exchange index  was down 96.96 points to 6,562.43, a 1.46 percent drop.

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The broader All Shares index was down 39.29 points or 1.12 percent to 3,478.11.

Losers edged gainers 136 to 63 with 44 stocks unchanged. Trading turnover reached P5.58 billion.

The peso closed at 56.808 to the dollar, down from 56.53 on Friday.

The currency opened at 56.65, an intraday high, and hit a low of 56.845. Trading turnover reached $1.59 billion.

Luis Limlingan, managing director at Regina Capital and Development Corp., said shares were sold down “as investors took precautionary measures following the geopolitical tension between Iran and Israel.”

Most actively traded Ayala Land Inc. was up P0.10 P27.95. BDO Unibank Inc. was down P2.80 to P147.30. International Container Terminal Services Inc. was down P4 to P326. SM Investments Corp. was down P23 to P957.

SM Prime Holdings Inc. was down P0.40 to P29.60. DigiPlus Interactive Corp. was up P0.06 to P11.50. PLDT Inc. was up P3 to P1,353. Metropolitan Bank and Trust Co. was down P1.95 to P68. Ayala Corp. was steady at P601. Bank of the Philippine Islands was down P1.50 to P117.

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