Stocks touch 4-week low


    Stocks finished lower yesterday, touching near four-week low.

    The Philippine Stock Exchange index was down 13.76 points or by 0.71 percent to 7,9337.71.

    The broader all shares index was down 6.16 points or 0.13 percent to 4,757.73.

    Losers edged gainers 107 to 78 with 56 stocks unchanged. Trading turnover reached P4.18 billion.

    The peso closed at 50.68 to the dollar, up from 50.82 on Wednesday.

    The currency opened at 50.93, hit a high of 50.68 and a low of 50.96. Trading turnover reached $1.17 billion.

    Luis Limlingan, managing director at Regina Capital Development Corp., said investors “digested testimonies from US Fed about its rate cut plans, as well as in the ongoing US President impeachment case.”

    “European shares retreated from four-year highs as ambiguity over a US-China trade deal and intensifying unrest in Hong Kong kept investors at bay, while Spanish stocks underperformed as Rome braced for more political uncertainty,” Limlingan said.

    Most actively traded Ayala Corp. was down P6 to P818. Jollibee Foods Corp. was down P10.60 to P202.60. SM Investments Corp. was up P11 to P1,070. Ayala Land Inc. was up P0.05 to P47. Alliance Global Group Inc. was down P0.02 to P11.60. DMCI Holdings Inc. was down P0.22 to P7.68. International Container Terminal Services Inc. was down P2 to P122. Metropolitan Bank and Trust Co. was up P0.35 to P68. SM Prime Holdings Inc. was up P0.15 to P39.30. BDO Unibank Inc. was up P0.70 to P156.