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Manila Bulletin devider Business devider Stocks flat on absence of news

Stocks flat on absence of news

Published Dec 13, 2021 04:12 pm

The local stock market closed almost flat after trading sideways most of the day due to the absence of fresh market moving news.

The main index shed 1.31 points or 0.02 percent to close at 7,190.86 as the Services sector led the retreat while the Mining and Oil and Property counters managed to advance.

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Volume was thin at 1.53 billion shares worth P5.26 billion as losers edged out gainers 102 to 94 with 49 unchanged.

“Philippine shares started the week quietly, following the US CPI release last Friday,” said Regina Capital Development Corporation Managing Director Luis Limlingan.

He noted that, “Investors will now focus on other data being released this week and its effect on the larger global economy, such as with retail sales and mortgage applications data on the 15th. Initial jobless claims will come out on the 16th.”

Meanwhile special attention will be given to the last round of meetings from central banks. The US Federal Reserve will be holding its two-day meeting on Dec. 14 and 15.

Here at home, the Bangko Sentral ng Pilipinas' Monetary Board will be meeting on Thursday, Dec. 16, its last policy meeting for this year.

Related Tags

Philippine Stock Exchange index (PSEi) Regina Capital Development Corporation Luis Limlingan
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