Share prices ease on lackluster trades

MANILA, Philippines — The Philippine Stock Exchange index ended flat yesterday, finishing at 7,520.40, 3.97 points, or 0.05 percent, lower than Friday’s close.

On the other hand, the broader All-Shares gauge inched up by 3.60 points, or 0.08 percent, to print 4,510.10.

The rest of the counters were a mixed bag as well with the mining and oil posting the biggest loss with a sharp decline of 2.36 percent. The financials and holding firms also finished in the red while the services, property and industrial sectors all posted gains.

Total value turnover, meanwhile, was thin at P5.935 billion. Market breadth was negative, 98 to 93 while 45 issues were left unchanged.

Commenting on yesterday’s trading session, Gio Perez of Papa Securities said the bearish mood was brought about by lackluster sentiment.

“A heavy net foreign selling figure of P822.2 million also accompanied the PSEi, larger than last Friday’s P691.2 million.

Yesterday’s losers were GT Capital, which was down by 3.4 percent, DMCI Holdings, which shed 3.2 percent and Semirara Mining Corp. which was also down by 2.9 percent.

On the other hand, gainers included San Miguel Corp., which was up 6.5 percent, First Gen which rose 4.6 percent and Robinsons Retail which went up 4.3 percent.