Monday, February 06, 2006
Shares fall 0.3% on losses in blue chip PLDT (2:12 p.m.)
MANILA -- Philippine shares declined Monday on losses in blue chip Philippine Long Distance Telephone Co.
The benchmark 30-company Philippine Stock Exchange Index fell 5.58 points, or 0.3 percent, to 2,133.13, adding to Friday's one percent loss.
Pressuring the index, heavyweight PLDT fell 0.5 percent to P1,845, in step with the 0.9 percent loss suffered by the company's American depositary receipts in New York Friday, in line with the decline on Wall Street.
Among other active stocks, the country's largest media network in assets, ABS-CBN, closed unchanged at P12 after dipping to an intraday low of P11.75. A stampede at the weekend killed 74 people and injured another 500 as they tried to get into a popular game show produced by the network.
On Monday, ABS-CBN Philippine depository receipts fell 4.2 percent to end at P11.50.
Helping to limit losses, SM Prime advanced 1.2 percent to P8.30, as the mall operator got a boost from upbeat earnings prospects ahead of the scheduled opening of at least five new malls this year.
Decliners led gainers 40 to 27, while 59 stocks were unchanged. (AP) |
