Mixed investor moods kept Philippine shares unmoved
The Philippine stock barometer again failed to climb to the 6,100 level on Friday as investors stayed on the sidelines while waiting for more leads. They are particularly looking at upcoming earnings reports of blue chips.
By the closing bell, the benchmark Philippine Stock Exchange Index (PSEi) shed 0.07 percent or 4.14 points to end at 6,089.53.
The broader All Shares Index also lost 0.19 percent or 7.12 points to close at 3,665.08.
A total of 1.33 billion shares worth P4.42 billion changed hands, stock exchange data showed.
Luis Limlingan, head of sales at stock brokerage house Regina Capital Development Corp., said the market was “relatively flat” due to mixed sentiments ahead of the upcoming earnings season.
This “kept the index moving sideways” as traders anticipate the onslaught of financial reports in the coming weeks, Limlingan added.
So far, only Bank of the Philippine Islands (BPI) has disclosed its earnings in the January to September period. It netted a record P50.5 billion.
Ayala Land Inc. was the most actively traded stock. It shed 2.59 percent to close at P22.55 each.
Then came International Container Terminal Services Inc., up 0.46 percent to P542.50; BDO Unibank Inc., down 0.21 percent to P139.70; Manila Electric Co., up 1.83 percent to P557; and Synergy Grid and Development Phils Inc., down 5.06 percent to P15.38 per share.
Others were Philex Mining Corp., down 3.9 percent to P9.61; Apex Mining Co. Inc., up 0.88 percent to P11.44; BPI, up 1.11 percent to P109.20; Century Pacific Food Inc., down 0.93 percent to P37.40; and Philippine Seven Corp., up 3.81 percent to P43.55 each.
Losers outnumbered gainers, 109 to 83, while 56 companies closed flat, stock exchange data also showed.
