Stocks retreat, peso weakens slightly

May 10, 2017

Stocks retreated further on Wednesday as the Philippine Stock Exchange Index ended 129.23 points lower to 7,794.7 points. In the broader market, decliners reached 133 while gainers were 78. There were 35 issues unchanged. Volume reached 2.88 billion shares valued at P10.486 billion. Despite the index’s decline, foreigners remained net buyers with purchases of P4.90 billion compared to selling of P4.36 billion. GT Capital Holdings led decliners, losing 4.62 percent to P1240. Other losers were Jollibee Foods Corp down 3.65 to P211, SM Investment Corp, down 3.06 percent to P760. Globe Telecom, which reported lower first quarter income, shed off 2.92 percent of its value to P2058. The peso closed at P49.95 against the US dollar from P49.925. Volume at the Philippine Dealing System reached $486 million from $352.50 on Tuesday. DMS