Stocks break 4-day uptrend

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    Share prices ended lower Monday as investors looked for strong leads to trade the market.

    The Philippine Stock Exchange index (PSEi) was down 60.45 points to 5,938.95, a 1 percent drop.

    The broader all shares index was down 27.45 points to 3,558.82, a 0.77 percent drop.

    Losers edged gainers 130 to 76 with 42 stocks unchanged. Trading turnover reached P6.46 billion.

    The peso closed at 48.405 to the dollar, up from 48.48 on Friday.

    The currency opened at 48.48, an intraday low and hit a high of 48.395. Trading turnover reached $499.3 million.

    “The Philippine benchmark index fell for the first time in four sessions on Monday after running into resistance at the 6,000 mark, its 100-day moving average,” said stockbroker SB Equities Inc.

    Amid larger foreign outflow and thin corporate news flow, SB Equities Inc., said the PSE “traded predominantly in the red after opening moderately higher.

    Most actively traded Dito CME Holdings Corp. was up P1.05 to P6.81. Metro Pacific Investments Corp. was up P0.10 to P3.80. Now Corp. was up P0.67 to P4.39. PLDT Inc. was down P25 to P1,339. Chelsea Logistics and Infrastructure Holdings Corp. was up P0.82 to P6.15. Metropolitan Bank and Trust Co. was up P0.10 to P39.10. Ayala Land Inc. was down P0.55 to P30.15. International Container Terminal Services Inc. was down P1.10 to P114. Jollibee Foods Corp. was down P1.90 to P141.10. SM Prime Holdings Inc. was down P0.50 to P29.50.