PHL share prices move sideways amid mixed news overseas

Philippine share prices moved sideways on Thursday as players weigh in on mixed news overseas. The benchmark 30-company Philippine stock Exchange index slipped 5.38 points or 0.13 percent to 4,297.93 while the broader all shares rose 4.11 points or 0.14 percent to 3,005.93. Gainers narrowly beat losers, 65 to 52, while 54 stocks closed flat. The six sectoral indices were split in half, with Financials, Property and Mining and Oil in the green, while Industrial, Holding Firms and Services ending in the red. Volume traded reached 8.54 billion shares valued at about P6 billion. Trader Justino Calaycay Jr. of Accord Capital Equities noted that the market's focus is now trained on the way the Eurozone is handling debts of its member states. However, the overnight surge in the US markets provided some cushion to the local bourse. "Focus will remain on development's over Europe's debt, particularly how the area's finance ministers act on proposed schemes to support Greece, as well as latest economic data releases from the US," he said. Meanwhile, in the local bourse, gainers dominated the five most active stocks for the session. Lepanto Consolidated Mining Co., the day's top traded, dipped P0.02 or 2.2 percent to P0.86. Banco de Oro Unibank, the country's largest lender in terms of assets, jumped P0.30 or 0.51 percent to P58.95. Sy holding firm SM Investments Corp. declined P6 or 1.05 percent to P564. Metropolitan Bank & Trust Co. climbed P0.45 or 0.64 percent to P70.70. Consunji-owned DMCI Holdings Inc. added P0.15 or 0.35 percent at P42.90. -- CMA/OMG, GMA News