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Stocks slip anew; peso remains firm against US dollar

The local main equities index slipped for the third consecutive day yesterday but the peso sustained its strength against the greenback.

The peso remained firm against the US dollar after ending the day at 48.381 from 48.41 on Thursday.

The Philippine Stock Exchange index (PSEi), meanwhile, shed 0.58 percent, or 37.46 points, to 6,378.07 points.

All Shares slipped by 0.51 percent, or 20.22 points, to 3,927.19 points.

Most of the sectoral gauges tracked the main index with the Mining and Oil index declining by 1.63 percent; Holding Firms, 0.89 percent; Property, 0.68 percent; Services, 0.67 percent; and Industrial, 0.21 percent.

Only the Financials index gained during the day as it rose by 0.14 percent.

Volume reached 2.04 billion shares, amounting to P5.9 billion.

Losers led gainers at 132 to 64, while 47 shares were unchanged.*PNA

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