07 December 2010
USD/PhP: 43.555 - 0.195 PSEi: 4197.92 - 25.20
USD/JPY: 82.63 PFINC: 975.30 - 5.30
EUR/USD: 1.3314 BDO: 60.00 - 0.30
GBP/USD: 1.5759 BPI: 60.00 unch
PDSTF3M: 1.4635 MBT: 72.85 - 1.35
Prices as of 4:00pm Source: Bloomberg, Reuters
PH stocks fall in profit taking
By Doris Dumlao
Philippine Daily Inquirer
Local stocks tumbled on Tuesday as investors were tempted to pocket gains from an earlier market rebound.
The main-share Philippine Stock Exchange index shed 25.20 points or 0.6 percent to close at 4,197.92.
The decline was led by the counter for holding firms which fell by 1.2 percent. Only the mining/oil index sector stayed afloat.
There were only 51 advancers as against 78 decliners and 46 unchanged stocks.
Value turnover stood at P5.78 billion.
Among the day's decliners were Alliance Global Group Inc., Aboitiz Power Corp., Metropolitan Bank & Trust Co., Philippine Long Distance Telephone Co., Ayala Corp., Universal Robina Corp., Banco de Ooro Unibank, Ayala Land Inc., Aboitiz Equity Ventures Inc., Manila Water Inc., Atlas Consolidated Mining Development Corp. and Cebu Air Inc.
On the other hand, Energy Development Corp., Manila Electric Co., Philex Mining Corp., DMCI Holdings Inc. and Globe Telecom Inc. bucked the downturn.
Sentiment was likewise sluggish overseas, with the Dow Jones Industrial Index falling by 19.9 points or 0.17 percent to 11,362.19 overnight.
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