|
|
Wednesday, October 11, 2006
Shares fall 0.1% on domestic, overseas security concerns (5:30 p.m.)
MANILA -- Stocks declined Wednesday amid security concerns linked to a series of bombings in the country's south and North Korea's proclaimed nuclear test.
The benchmark 30-company Philippine Stock Exchange Index declined 0.1 percent at 2,527.27, after shedding 0.9 percent Tuesday.
Traders took notice of a bomb explosion that killed six people and wounded 29 in the southern Philippines late Tuesday amid warnings of terror attacks. A second bomb was defused Wednesday and another exploded, causing no casualties.
DA Market Securities President Nestor Aguila said the market will likely continue to consolidate amid an upbeat outlook based on expectations of a possible Central Bank interest rate cut, benign inflation data and strong remittance inflows from Filipinos working overseas.
Philippine Long Distance Telephone Co. was the most actively traded, down 0.7 percent at P2,175. Ayala Land was up 1.9 percent at P13.75.
The peso strengthened slightly against the US dollar. The dollar closed at P50.02, down from P50.04 Tuesday. (AP)
|
|
|
|
