Stocks decline, peso slightly lower

August 29, 2017

Stocks declined on Tuesday, the first of a three-day trading session this week.

The Philippine Stock Exchange index closed 66.75 points lower to 7,946.39. In the broader market, there were 103 decliners, 83 gainers and 51 unchanged.

Volume reached 1.35 billion shares worth P6.87 billion. Foreigners were net sellers with P4.29 billion compared to purchases of P4.27 billion.

Most active shares were led by Ayala Corp. unchanged at P899 but topping the list on value turnover of P546.9 million and SM Prime, down 0.59 percent to P33.80. SM Investments Corp., which said it is in preliminary talks for a stake in Goldilocks Bakeshop, closed 0.61 percent lower to P816.

The peso closed slightly lower at P51.11 against the US dollar from P51.08. Volume at the Philippine Dealing System reached $548.90 million from Friday's $590.20 million. DMS