PHL stocks slide amid concerns on possible euro bloc bailouts

The Philippine Stock Exchange index slid for the fifth consecutive session Friday as concerns about the possibility of further bailouts for debt-laden nations in the euro bloc persist. The PSEi shed 43.91 points or 1.07 percent to close at 4,053.58, according to the PSE's online market information as of 12:10 p.m. More than 1.006 billion shares valued at P4.859 billion were traded. Decliners outpaced advancers 85 to 51, while 38 stocks remained unchanged. Broker AB Capital Securities Inc. said the drop of PSEi came after limited gains in Europe, where investors were wary of further debt problems around the region. Stock exchanges in Ireland, Portugal, Spain, and Greece — countries at the forefront of investor concerns over Europe's debt crisis — closed lower, according to an AP report. — Jesse Edep/OMG, GMANews.tv