Share prices ended lower Monday tracking overseas leads.
The Philippine Stock Exchange index was down 32.42 points to 6,763.92, a 0.48 percent drop.
The broader all shares index was down 8.97 points to 4,099.67, a 0.22 percent drop.
Gainers edged losers 102 to 100 with 60 stocks unchanged. Trading turnover reached P4.19 billion.
The peso closed at 47.66 to the dollar, up from 47.75 on Friday. It opened at 47.68, hit a high of 47.65 and a low of 47.725. Trading turnover reached $724 million.
Luis Limlingan, managing director at Regina Capital Development Corp., said the same US nonfarm payroll figures are also what drove foreign investors to take profit in the Philippines “as funds went back into the US market after the May nonfarm-payrolls report showed a less-than-expected gain — effectively leading many to bet that the Fed will maintain its easy-money policies for longer.”
“In addition, oil extended its gains, topping $72 a barrel for the first time since 2019 as OPEC+ supply discipline and recovering demand countered concerns about patchy COVID-19 vaccination rollout around the globe,” he said.
Most actively traded Ayala Land Inc. was down P0.10 to P36.30. AC Energy Corp. was steady at P7.78. International Container Terminal Services Inc. was down P1 to P147. Bank of the Philippine Islands was down P0.70 to P85.15. Megaworld Corp. was down P0.08 to P3.14. BDO Unibank Inc. was down P0.60 to P106.40. Manila Electric Co. was down P7 to P275. Globe Telecom Inc. was steady at P1,840. Monde Nissin Corp. was up P0.06 to P13.46. Jollibee Foods Corp. was up P2 to P196. – Ruelle Castro
