Stocks, peso down June inflation rate

July 5, 2018

The Philippine stock index fell and the peso-dollar rate declined as June inflation came in higher-than-expected on Thursday.

The 5.2 percent June inflation rate weighed down on the Philippine Stock Exchange index, which finished 114.85 points lower to 7, 233.57. In the broader market, there were 113 decliners, 75 gainers and 60 shares unchanged.

The peso closed at P53.42 against the US dollar from P53.36 on Wednesday.

Volume at the PSE reached 680 million shares worth P5.2 billion from the previous session's 590.9 million valued at P4.9 billion. Foreigners were net sellers, with P3.52 billion unloaded and P 3 billion bought.

Most traded shares were led by Ayala Land, down 1.57 percent to P37.60; BPI, down 1.93 percent to P86.30 and SM Investment Corp., down 3.78 percent to P890. DMS