Shares drop

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    Share prices ended down yesterday as investors took to profit-taking.

    The Philippine Stock Exchange index was down 1.68 points to 7,298.02, a 0.02 percent drop.

    The broader all shares index was down 0.18 points to 4,350.29, flat from Wednesday.
    Losers edged gainers 117 to 105 with 49 stocks unchanged. Trading turnover reached P9.26 billion.

    The peso closed at 48.045 to the dollar up from 48.066 on Wednesday. The currency opened at 48.06 and hit a high of 48.04 and a low of 48.07. Trading turnover reached $674.59 million.

    Philstocks Financial Inc. said late-session buying managed to cap the market’s decline “as bargain hunters trimmed losses in the final minutes of the trading day.”

    “Prior to this, the market fell to as low as 7,236.82 as investors booked gains while waiting for further clues, primarily the Bangko Sentral ng Pilipinas’ policy decision,” it said.

    Most actively traded SM Prime Holdings Inc. was down P0.95 to P37.85. Basic Energy Corp. was up P0.03 to P0.465. SM Investments Corp. was up P19 to P1,094. Premier Horizon Alliance Corp. was down P0.09 to P1.08. MRC Allied Inc. was up P0.14 to P0.62.

    Metropolitan Bank and Trust Co. was down P0.20 to P49.80. Century Pacific Food Inc. was down P0.06 to P17.50. BDO Unibank Inc. was down P0.50 to P114.90. Ayala Corp. was down P9 to P840. Universal Robina Corp. was down P1.50 to P157.