Stocks’ early gains fizzle out

March 9, 2018

Stocks ended the week lower on Friday after early gains dissipated.

The Philippine Stock Exchange index finished at 8,372.51 points, down 9.34 points. In the broader market, there were 125 gainers, 82 decliners and 54 unchanged.

Volume reached 2.57 billion shares worth P6.58 billion from Thursday's 1.99 billion valued at P5.83 billion. Foreigners were net sellers, unloading P2.56 billion while buying P1.987 billion.

Most traded shares were led by Metrobank, up 0.05 percent to P96; Ayala Land, 0.63 percent up to P41.75. Prime Media, 50 percent up to P1.68 and MRC Allied, up four percent to 78 centavos.

The peso closed unchanged at P52.03 against the US dollar. Volume at the Philippine Dealing System reached $592.10 million from $453.70 million. DMS