Stocks retreat on profit-taking

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    Share prices ended lower Thursday on profit- taking profit  and lack of strong impetus.

    The Philippine Stock Exchange index (PSEi) was down 23.47 points to 7,944.43, a 0.30 percent drop.

    The broader all shares index was down 5.03 points to 4,799.79, a 0.11 percent drop.

    Losers edged gainers 96 to 93 with 50 stocks unchanged.

    Trading turnover reached P6.73 billion.

    The peso closed at 51.93 to the dollar, up from 51.15 on Wednesday.

    The currency  opened at 52, hit a high of 51.91 and a low of 52.09.

    Trading turnover reached $1.17 billion.

    “Local shares closed lower, with investors awaiting further clarity on central bank stimulus plans and international trade negotiations,” said Luis Limlingan, managing director at Regina Capital Development Corp.

    SB Equities Inc. said the market “lacked domestic drivers.”

    Most actively traded Jollibee Foods Corp. was down P3.80 to P222.40. SM Investments Corp. was down P11 to P1,014. Metropolitan Bank and Trust Co. was down P0.25 to P69.50. Ayala Land Inc. was down P0.70 to P49.30. Bank of the Philippine Islands was up P0.20 to P93.20. SM Prime Holdings Inc. was down P0.30 to P34.20.

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