Stocks decline, peso at P51.95:$1

April 13, 2018

Stocks slid on Friday as the local index ended lower for the second straight week.

The Philippine Stock Exchange index finished at 7,899.98, down 143.09 points.

In the broader market, there were 134 decliners, 76 gainers and 43 shares unchanged. Volume reached 3.17 billion shares valued at P6.09 billion from Thursday's 1.45 billion valued at P5.9 billion.

Foreigners were net sellers, with selling at  P3.7 billion while purchases were at P2.88 billion

Most active shares were Ayala Land, down 2.21 percent to P39.90; SM Investment Corp., down 4.86 percent to P940; Ayala Corp., down 2.25 percent to P956 and Metro Pacific, down 2.14 percent to P83.55.

The peso closed at P51.95 against the US dollar from P52.03 on Thursday. Volume at the Bankers Association of the Philippines reached $522.65 million from $627.2 million on Thursday. DMS