Local share prices barely move

Local share prices were flat on Thursday, with the composite index adding about 4 points for a fresh record close in two years. The Philippine Stock Exchange index gained 0.14 percent or 4.54 points to 3,171.14 in thin trade of a little over 700 million stocks worth P3.22 billion. Despite the slight gain, losers beat gainers 51 to 40, while 69 stocks were unchanged. Only two of the six subindices advanced, led by industrial stocks, which went up by 1.3 percent or 62.67 points to finish at 4,898.99. The financial index also added 0.36 percent or 2.45 points to 676.13. On the other hand, mining and oil stocks plunged by 1.45 percent or 133.62 points to 9,061.84, while property companies slid by 0.59 percent or 6.8 points to 1,146.5. Services also slipped by 0.57 percent or 8.55 points to 1,486.77, while holding firms shed 0.1 percent or 2 points 1,932.16. The all-share index was also down by 0.31 points or less than 0.1 percent to 1,983.79. — N.P. Aquino, GMANews.TV