Author Topic: Stock Market in the Philippines Update  (Read 803 times)

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Stock Market in the Philippines Update
« on: August 11, 2010, 04:58:26 PM »
By Doris Dumlao
Philippine Daily Inquirer

Local stocks pulled back slightly on Wednesday as investors locked in gains from the recent market run-up to multi-year highs.

The main-share Philippine Stock Exchange index lost around 3 points or 0.09 percent to finish at 3,522.72.

The industrial, holding firms, property and mining/oil counters succumbed the most to profit-taking while the financial and services counters managed to stay afloat.

There were only 53 advancers as against 81 decliners and 35 unchanged stocks.

The day's decline was tempered by some loading up of shares of Philippine Long Distance Telephone Co., First Philippine Holdings Corp., DMCI Holdings Inc., Ayala Corp., Lopez Holdings Corp., Energy Development Corp., Philippine National Bank and Manila Water Co.

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