Vaccine trial pause dampens stocks

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    Share prices ended lower Thursday as investors looked for more positive news to trade the market.

    The Philippine Stock Exchange index (PSEi) was down 30.45 points to 5,902.39, a 0.51 percent drop.

    The broader all shares index was down 9 points to 3,553.56, a 0.25 percent drop.
    Gainers edged losers 101 to 85 with 53 stocks unchanged. Trading turnover reached P5.96 billion.

    The peso closed at 48.57 to the dollar, up from 48.66 on Thursday.

    The currency opened at 48.60 and hita high of 48.55 and a low of 48.61. Trading turnover reached $584.96 million.

    Luis Limlingan, managing director at Regina Capital Development Corp., said the market’s drop remains linked to “concerns regarding the vaccine progress.”

    “On the vaccine front AstraZeneca’s paused clinical trials may resume next week after earlier reports of adverse reaction. AstraZeneca’s paused clinical trials may resume next week,” Limlingan said.

    Most actively traded SM Investments Corp. was down P7 to P880. Bank of the Philippine Islands was down P0.25 to P65. Ayala Land Inc. was up P0.25 to P30. Ayala Corp. was down P16 to P700. SM Prime Holdings Inc. was down P0.05 to P28.25. BDO Unibank Inc. was up P0.75 to P92. Alliance Global Group Inc. was up P0.12 to P6.97. PLDT Inc. was up P2 to P1,448. Universal Robina Corp. was down P0.70 to P142.20. GT Capital Holdings Inc. was down P1 to P402.80.