Stocks lower, but up for the week.

February 24, 2017

Stocks closed lower on Friday but finished the week higher for the third straight week.

The Philippine Stock Exchange index closed 76.57 points lower to end at 7,258.99. For the week, the index was up 0.20 percent.

Volume fell to 976.48 million shares valued at P6.40 billion from Thursday’s 1.37 billion shares worth P7.28 billion.

Foreign selling was at P3.39 billion while foreign buying was at P3.44 billion.

The peso went up to P50.15 before fading to close at  P50.215 against the US dollar  at the Philippine Dealing System  On Thursday, the peso closed at P50.225.

For the week, the peso declined 0.40 percent as the currency fell to as low to a 10-year low of  P50.355.

Volume climbed to $415.30 million from the previous session’s $334.30 million. DMS