philippine news

Jun 30, 2008

Shares end flat ahead of inflation report; down 32% in H1

Thomson Financial
Inquirer.net

MANILA,Philippines — Shares closed little changed on Monday as investors traded cautiously ahead of the release of the June inflation figure later in the week and after crude oil futures soared to a new peak of almost $143.00 a barrel on Friday.

The composite index lost 6.30 points or 0.3 percent to 2,459.98, a new low in nearly two years on the last trading day of the first half of 2008. The index has fallen 3.0 percent over the first half, and is down 37.0 percent from its all-time high of 3,896.74 in October last year.

The all-share index inched up 1.48 points or 0.1 percent to 1,571.68.

There were 43 advancers and 46 decliners, while 46 were flat.

Turnover reached P3.1 billion, down from Friday’s P7.2 billion.

($1 = P44.90)

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