Stock Market

Stocks retreat after intraday peak

Posted on January 15, 2013 01:49:30 PM

BREAKING NEWS ( Updated as of 04:09:00 PM )

THE BOURSE retreated after surpassing the 6,100 level this morning.

The Philippine Stock Exchange index (PSEi) slid by 6.23 points or 0.10% to close at 6,087.67, while the broader all-share index went down by 1.04 points or 0.03% to 3,836.10

The PSEi pierced the 6,100 mark this morning to hit 6,133.87, up 39.97 points or 0.66%. It topped its previous intraday record high of 6,115.18 recorded on Monday.

Sectoral indices closed mixed, with decliners led by financials that dropped by 17.30 points or 1.08% to 1,581.80. Industrial went down by 16.63 points or 0.18% to 9,214.21, while holding firms decreased by 16.01 points or 0.30% to 5,389.43.

Closing in positive territory, meanwhile, were mining and oil that jumped by 216.11 points or 1.02% to 21,491.30 and property that rose by 27.87 points or 1.17% to 2,409.22. Services shed 6.03 points or 0.33% to 1,815.61.

Among actively-traded stocks, Ayala Corp. fell by P10.00 or 1.85% to P530.00, while Alliance Global Group, Inc. slipped by 26 centavos or 1.49% to P17.14. BDO Unibank, Inc. sank by 20 centavos or 0.26% to P76.80.

Decliners led advancers 97 to 73, while 45 stocks were unchanged.

The stock market started the week on a strong note, finishing on Monday at a fresh all-time high and tracking gains abroad amid continued investor optimism.

The PSEi gained 42.15 points or 0.70% to close at 6,093.90, its seventh all-time high for the year, while the broader all-share index added 20.09 points or 0.53% to 3,837.14.