Shares Are Mixed
May 10, 2011
The Philippine Stock Exchange Index of 41 selected issues fell 4.59 to 3200.98 following Tuesday's 13.91-point drop. Gainers were ahead of decliners, 54 to 40 while 77 issues were unchanged. Total volume of shares traded rose to 14.6 billion shares valued at 1.98 billion pesos from Tuesday's 10.69 billion shares valued at 1.76 billion pesos. Traders said foreign investors stayed clear of the market. Among the widely-traded stocks, shares of holding concern APC Group gained the most attention, rising 0.1 centavo to 2.2 centavos with 219.3 million pesos worth of stocks changing hands. Traders said the market was awash with rumors that APC is set to join the bidding for the privatization of the Metropolitan Waterworks and Sewerage System, the government agency in charge of Metro Manila's water supply. The commercial-industrial sector subindex gained slightly by 7.38 to 4331.84, while the property sector was down a marginal 0.01 point to 168.56. The mining sector was up 43.09 to 2697.24 while the oil sector was down a scant 0.03 point to 6.40.
VastPress 2011 Vastopolis
