Stocks dip anew ahead of inflation results

MANILA, Philippines —  Share prices finished slightly lower as investors stayed cautious ahead of the release of the country’s November inflation results.

The Philippine Stock Exchange index declined for a second straight session, inching down by 0.06 percent or 4.25 points to end at 6,729.96.

The broader All Shares index, however, was able to finish in the positive territory with a 0.02-percent or 0.71-point improvement to 3,729.96.

“Shares traded flat once again as investors await today’s) CPI release. Several are estimating that the latest inflationary data will be will be slightly above October’s 2.3 percent but well within the administration’s acceptable range,” Luis Limlingan of Regina Capital said.

Net value turnover stood at P5.16 billion, almost flat from the previous day’s P5.39 billion.

Sectors were still mixed, but were dominated by those in the green.

Financials led the charge with a 0.35-percent gain, followed by services with a 0.34-percent increase.

Meanwhile, holdings firms as well as mining and oil declined by 0.80 percent and 0.10 percent, respectively.

Market breadth was positive as advancers toppled decliners, 103 to 89, while 42 stocks were unchanged.

Banking giants Bank of the Philippine Islands and BDO Unibank were yesterday’s top traded companies, growing by 0.63 percent and 0.32 percent, respectively, to P128.50