MANILA, Feb. 5 (PNA) –- Local share prices retreated anew on negative developments overseas.
The barometer Philippine Stock Exchange index (PSEi) lost 41.82 points to 7,674.24 from 7,716.06 close.
Jun Calaycay, analyst at Accord Capital Equities Corp., attributed the market slump to generally negative news cycles out of Europe and a flat day in the United States.
”This is symptomatic of a market that is evenly in the hands of both the bulls and the bears. It is up for earnings and a couple of economic data in the coming days to provide some impetus to trades either way,” he said.
All counters were in negative territory, led by mining and oil and services that surged slightly.
Volume of transactions reached 1.20 billion shares valued at Php10.10 billion.
Decliners dominated decliners, 94 to 87, while 38 issues unchanged.
The day’s top gainers were led by Imperial Resources Inc., Asia Amalgated Holdings Corp., United Paragon Mining Corp., Jackstones Inc. and Lorenzo Shipping Corp. (PNA)