Shares drop on overseas lead, peso down


    Share prices ended lower yesterday as investors took to overseas lead to trade the market.
    The Philippine Stock Exchange index was down 79.73 points or by 1.03 percent to 7,653.94.

    The broader all shares index was down 29.14 points or by 0.64 percent to 4,558.85.

    Losers edged gainers102 to 67 with 63 stocks unchanged. Trading turnover reached P12.6 billion, including a P5.4 billion special block sales in Ayala Corp.

    The peso closed at 50.635 to the dollar, down from 50.631 on Wednesday.

    The currency opened at 50.61, an intraday high and hit a low of P50.665. Trading turnover reached $464.9 million.

    “Philippine stocks fell significantly with many keeping an eye on the impeachment of US President Donald Trump, while in the US stocks dipped as investors digested the weak earnings from FedEx,” said Luis Limlingan, managing director at Regina Capital Development Corp.

    Most actively traded International Container Terminal Services Inc. was down P3 to P130.

    Manila Water Co. Inc. was up P0.90 to P7.75. SM Investments Corp. was down P20 to P1,035. Ayala Land Inc. was down P0.35 to P45.40. Ayala Corp. was down P3 to P755. BDO Unibank Inc. was down P3.20 to P154.80. Metro Pacific Investments Corp. was down P0.09 to P3.40. SM Prime Holdings Inc. was steady at P40.65. Alliance Global Group Inc. was down P0.04 to P11.32. Security Bank Corp. was down P6 to P187.