Bad news spooks stocks

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    Share prices ended lower Thursday as investors weighed a series of negative news in the market.

    The Philippine Stock Exchange index (PSEi) was down 25.02 points to 7,790.91, a 0.32 percent drop.

    The broader all shares index was down 17.18 points to 4,640.63, a 0.37 percent drop.
    Losers edged gainers 117 to 68 with 54 stocks unchanged.

    Trading turnover reached P6.51 billion.

    “With trade talks ongoing and the November inflation coming in a little over expected, local shares slid this trading session,” said Luis Limlingan, managing director at Regina Capital Development Corp.

    “The US and China are closer

    Limlingan meanwhile said the November inflation came in “a bit higher than consensus estimates of 1.3 percent” — the first time that the reading accelerated in the second half of 2019.

    Most actively traded Ayala Land Inc. was down P0.50 to P45.50. SM Investments Corp. was up P8 to P1,070. Ayala Corp. was steady at P830. BDO Unibank Inc. was down P0.50 to P158. SM Prime Holdings Inc. was down P0.20 to P40. Security Bank Corp. was down P1.70 to P197.90. Bank of the Philippine Islands was up P0.95 to P89.95.