Stocks snap two-day rally
Stocks closed lower on Thursday after a big two-day rally, with the Philippine Stock Exchange finishing 18.89 points lower to 7,565.32.
At the broader market, there were 101 decliners, 91 gainers while 43 were unchanged.
Turnover rose to 2.02 billion shares worth P9.53 billion. Foreigners remained net buyers with purchases of P6.12 billion and sales of P5.28 billion.
Bucking the market trend were ATN Holdings A and B, which rose by double-digits, percentage wise. ATN Holdings A gained 37.31 percent to .460 while ATN Holdings B rose 30.43 percent to .450.
Transpacific Broadband Group International finished 25.14 percent higher to P2.19.
Alliance Global Group Inc was the most active share, with 149,132,700 shares valued at P1.944 billion. It closed at P 13.40, up 3.24 percent.
The peso closed at P50.175 against the US dollar from P50.15 on Wednesday. Volume at the Philippine Dealing System was at $274.1 million from $336 million. DMS