Stock index falls below 8,000 points

June 8, 2017

Stocks retreated from its high-water mark on Thursday as the key index finished below 8,000 points. The Philippine Stock Exchange index closed 43.69 points lower to 7,958.63 points. Volume reached 1.29 billion shares worth P9.23 billion. Foreigners were net buyers with P5.37 billion while sellers unloaded P4.60 billion worth of shares. Bank of the Philippine Islands, whose technical problems with its online services flared up for the second day, saw its price decline 0.66 percent to P105.90 Most active shares were led by Globe Telecom, down 3,41 percent to P2,152, DMCI down 2.74 percent to P14.20 and International Container Terminal Services, up 1.96 percent to P104. The peso slightly gained to close at P49.495 against the US dollar from P49.51. Volume at the Philippine Dealing System was $374.7 million from $427.5 million. DMS