PH Stocks Slide on Profit Taking

Manila—(PHStocks)—Philippine stocks end lower Thursday, 4 July, as investors move to cash in on some of their gains. The benchmark Philippine Stock Exchange (PSE) index slipped by 0.24% or 15.86 points to close the day’s trading at 6,464.26.

Today, the Industrials and the Holding Firms sectors suffered declines, with the former losing 0.59% while the latter, 0.49%. The Mining and Oil sector, meanwhile, recovered sharply from yesterday’s declines, jumping 6.44%. The Services index, on the other hand, went up by 0.42%. The wider All Shares index more or less maintained its levels from yesterday, gaining just 0.05%.

Trading was slightly muted today, with value turnover just reaching PhP5.43 billion on 1.8 billion shares traded. There were 99 gainers against 57 losers, while 36 stocks were flat.

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Top most active for today in terms of volume are SM Prime Holdings Inc. (PSE: SMPH), SM Investments Corporation (SMIC, PSE: SM), Ayala Land Inc. (PSE: ALI), Metro Pacific Investments Corporation (MPIC, PSE: MPI), Manila Electric Company (PSE: MER), Alliance Global Group Inc. (PSE: AGI), Philippine Long Distance Telephone Co. (PLDT, PSE: TEL), First Gen Corporation (PSE: FGEN), Bloomberry Resorts Corp. (PSE: BLOOM), and Security Bank Corporation (PSE: SECB).

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