Stocks end bit lower from Monday’s all-time high

November 7, 2017

Stocks closed slightly lower from the previous day's all-time high finish despite a last burst of buying in the final 30 minutes of trading on Tuesday.

The Philippine Stock Exchange ended 1.26 points lower at 8, 521.81 despite a report earlier in the day that inflation in October reached a three-year high of 3.5 percent.

In the broader market, there were 104 losers, 87 gainers and 53 issues unchanged.

Volume reached 862 million shares worth P7.025 billion. Foreigners were  net buyers by a slim margin, with P3.74 billion purchased and P3.73 billion sold.

San Miguel Pure Foods Company Inc., was the most heavily traded stock, closing 1.52 percent lower to P455. Metrobank gained 3.24 percent to P94, Ayala Land rose 1.33 percent to P45.60 and Universal Robina Corp., down 4.12 percent to P139.50.

The peso closed at P51.33 against the US dollar from P51.28 on Monday. Volume at the Philippine Dealing System reached $533.70 million from $330.95 million. DMS