The Philippine Stock Exchange index continued to consolidate within the 6,400 level as investors look toward the first quarter earnings season for potential catalysts. /PDI
MANILA -The Philippine Stock Exchange index continued to consolidate within the 6,400 level as investors look toward the first quarter earnings season for potential catalysts.
By the closing bell on Tuesday, the PSEi slipped 0.63 percent, or 40.90 points, to 6,464.72 while the broader All Shares index was down 0.52 percent, or 18.02 points, to 3,471.52.Investors were mainly on the sidelines during the session as 770.4 million shares valued at just under P3 billion changed hands while foreigners were net sellers to the tune of P142.88 million, according to data from the stock market.
Sy-led banking giant BDO Unibank Inc. kicked off the quarterly earnings season with a massive first quarter profit of P16.5 billion, which was 41 percent higher than the same period last year.
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