Stocks lower ahead of May inflation report

June 4, 2018

Stocks closed lower on Monday, with the main index losing 0.66 percent, a day ahead of the Philippines' inflation report for May.

The Philippine Stock Exchange settled at 7,579.61 points, down 50.65 points. In the broader market, there were 113 decliners, 72 gainers and 58 shares unchanged.

Volume declined to 464.5 million valued at P5.5 billion from Friday's 625.15 million worth P5.56 billion. Foreigners were net sellers, with P3.85 billion worth of stocks sold and P3.61 billion bought.

Most active shares were led by Jollibee, down 1.2 percent to P280.40; International Container and Terminal Services Inc, up 1.98 percent to P85 and Universal Robina Corp., down 6.21 percent to P120.50.

The peso closed at P52.58 against the US dollar from P52.55 on Friday. Volume at the Bankers Association of the Philippines reached $493.8 million from $587.5 million on Friday. DMS