RP SHARE PRICES EASE ON LACK OF MARKET-MOVING NEWS

Philippine share prices continued to decline Thursday in the absence of market- moving news.

The Philippine Stock Exchange index lost 9.02 points or 0.28 percent to close at 3,167.83, breaching the psychological support 3,200.

"The market is showing continued weakness due to the same old issues – Greece's debt problem, as well as concerns about the elections. The surge in (election) violence is spooking investors," Astro Del Castillo of First Grade Holdings said in an interview.

"Somehow the selling has tapered off, but we'll see if there is going to be a run-off tomorrow. Market may be flat or may go lower," he said.

The all-share index lost 3.4 points or 0.17 percent to close at 1,977.52.

Trading was brisk with 1.29 billions stocks worth P7.65 billion changing hands and special block sales worth P5 billion in Metrobank and P52.4 million in Philippine Long Distance Telephone Co., accounting for 66.15 percent of Thursday's turnover.

Foreign investors bought P4.73 billion more than they sold, according to the Philippine Stock Exchange.

Five of the six subindices went down, while financial stocks went up by 12.82 points or 1.93 percent to 675.8.

Holding firms went down by 23.03 points or 1.15 percent to close at 1,985.88.

Service stocks lost 9.64 points or 0.65 percent to 1462.99, while property stocks shed 4.57 points or 0.39 percent to 1,169.46.

Mining and oil stocks finished 22.09 points or 0.26 percent lower at 8,567.27, while industrial firms shed 4.54 points or 0.093 percent to close at 4,883.68.

Top gainer Interport Resources Corp.'s B stocks advanced by 25 centavos to 85 centavos, while top loser JTH Davies Holdings Inc. shed 14 centavos to close at P1.42. Most traded stock First Gen Corp. shed 20 centavos to P9.70. —VS, GMANews.TV



Source: http://wwt.gmanews.tv/story/190266/rp-share-prices-ease-on-lack-of-market-moving-news




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