PSE DECLINES

The Philippine Stock Exchange (PSE) declined today with many of the blue chips being sold down to bring the PSE index down by 42.76 points or 0.72 percent to 5,867.88 points.

The financials and the mining and oil posted gains with value turnover at P7.114 billion with gainers ahead 101 to 92 with 48 shares unchanged.

ABS CBN shares hit the ceiling price of 50 percent as it gained P4.50 to close at P13.50 on transactions of P155 million. Interest in the stock surged on news of its partnership with ZOE tv set to start this Saturday.

Market bellwether SM Investments lost P6.50 to P865 while it's sister firm SM Prime went down by 30 centavos to P29.30. BDO Unibank gained P1.45 to p88 while Metrobank lost 40 centavos to P38.60.

Dito remained the most active stock as its share price lost P1.04 to P5.77, with value turnover at P1.527 billion. The second most active stock was Metro Pacific, which gained 7 centavos to P3.90.

Net foreign selling continued with P1.2 billion with foreign buying at P1.567 billion and foreign selling at P2.859 billion. PLDT had foreign selling of P188 million as it lost p40 to P1,299 while Globe Telecom also lost a similar P40 in its share price to P2,000.