Stocks drop from a 9-mo. high

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    Share prices ended lower Thursday as investors took to profit- taking.

    The Philippine Stock Exchange index (PSEi) was down 54.16 points to 6,997.62, a 0.77 percent drop.

    The broader all shares index was down 17.33 points to 4,127.54, a 0.42 percent drop.
    Gainers edged losers 114 to 99 with 60 stocks unchanged. Trading turnover reached P11.12 billion.

    The peso closed at 48.315 to the dollar, down from 48.22 on Wednesday.

    The currency opened at 48.25 and hit a high of 48.245 and a low of 48.33. Trading turnover reached $692.3 million.

    “Philippine shares fell from a nine-month high on Thursday as investors looked to book gains on select blue-chips ahead of the Monetary Board’s rate decision,” said SB Equities Inc.

    “Tracking the retreat on Wall Street, which was weighed by fears of another round of lockdowns amid surging coronavirus cases, the local bourse opened weaker and traded in the red all session, amid the most foreign outflow in 11 days,” it added.

    Most actively traded BDO Unibank Inc. was up P1.65 to P99. Bank of the Philippine Islands was up P2.25 to P86.70. Ayala Land Inc. was down P0.25 to P39.25. SM Investments Corp. was down P24 to P1,005. Premier Horizon Alliance Corp. was up P0.19 to P0.77. Securit Bank Corp. was up P1.30 to P107.50. SM Prime Holdings Inc. was up P0.50 to P38.

    DoubleDragon Properties Corp. was down P0.50 to P38. Metropolitan Bank and Trust Co. was up P0.15 to P45.65.