Stocks down, peso closes sideways

October 20, 2012 5:35 am 

By Joann Santiago

MANILA, Oct. 19 — The local stocks registered a slight loss at the end of this week and the peso moved sideways tracking counterparts overseas.

The composite index is down by 0.07 percent or 3.58 points to 5,432.36 points from Thursday’s 5,435.94 level.

Also, the broader all shares index is down by 0.18 percent or 6.44 points to 3,595.15 points against the previous day’s 3,601.59 level.

Most of the sectoral indices charted the path of the main index and these are led by the property followed by the services, mining and oil and financials.

On the other hand, the industrial and holding firms indices bucked the trend.

Value turn-over reached P6.5 billion after 13.6 billion shares changed hands.

Gainers led losers at 82 to 80 while 47 stocks were unchanged.

Active stocks were led by Alcorn Gold Resources, SMIC, PLDT, Alliance Global, Ayala Land, Ayala Corp., IP-Egame, Manila Water, SMC 2A, and SM Prime.

Investors took note of the news that European officials are solid in their decision to put up a single bank supervisor for the region starting 2013, which is part of the bid to provide capital infusion to ailing banks.

Similarly, the local currency closed sideways at 41.39 against the dollar from Thursday’s 41.32.

It opened the day at 41.35, way below the 41.17 starting level in the previous day.

It’s starting level is the unit’s strongest trade for the day after it went down to 41.43 bringing the average to 41.39.

Volume of trade amounted to US $ 572.7 million, lower than day-ago’s US $ 982.8 million. (PNA)



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