Stocks flat, peso down

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    Share prices ended lower yesterday as most investors opted to stay on the sidelines amid a lack of strong lead to trade the market.

    The Philippine Stock Exchange index was down 21.92 points or by 0.28 percent to 7,779.80.

    The broader all shares index was down 8.08 points or by 0.17 percent to 4,637.

    Losers edged gainers 105 to 81 with 48 stocks unchanged. Trading turnover reached P5.55 billion.

    The peso closed at 50.77 to the dollar, down from 50.765 on Friday.

    The currency opened at 50.83, hit a high of 50.77 and a low of 50.875. Trading turnover amounted to $653.4 million.

    “Philippine shares remained flat as investors poured money into the US stock market instead with jobs growth topping expectations,” said Luis Limlingan, managing director at Regina Capital Development Corp.

    Limlingan said that over the weekend, the US reported that nonfarm payrolls rose in November and were revised higher in prior months.

    “The unemployment rate ticked down to by a tenth to 3.5 percent on a rounded basis,” he said.

    Most actively traded Ayala Land Inc. was down P0.80 to P44.70. SM Investments Corp. was down P18 to P1,060. BDO Unibank Inc. was up P3.50 to P160. Universal Robina Corp. was up P4.50 to P140.50. SM Prime Holdings Inc. was up P0.20 to P41. Metro Pacific Investments Corp. was down P0.12 to P3.54. Ayala Corp. was down P15 to P813. Bank of the Philippine Islands was steady at P89. Metropolitan Bank and Trust Co. was up P0.25 to P68.20.