Philippine shares end flat

Share prices on the Philippine Stock Exchange were little changed Tuesday, as market players were in a cautious mood less than a week before the May 10 polls.


The Philippine Stock Exchange index (PSEi) gained 0.59 point or 0.02 percent to close at 3290.68.
“Investors were risk-averse, because it’s just a week before the elections. They’d like to play it safe," analyst
Astro Del Castillo of First Grade Holdings said.

“There wasn’t really any market-moving news, except for first quarter earnings which we expect would propel the market towards the end of the week," he said.

The PSE all-share index shed 0.26 percent or 5.4 points, closing at 2,038.57.

More than 1.43 billion shares worth P2.91 billion changed hands. Seventy stocks declined, 28 gained and 65 were unchanged.More....