Stocks drop ahead of US inflation report

The main index dropped 34.81 points or 0.53 percent to close at 6,472.97 as Banks and Conglomerates led losses while Services and Industrial counters advanced. Volume improved to 622 million shares worth P4.58 billion as losers beat gainers 91 to 72 with 66 unchanged. “Philippine shares succumbed to profit taking ahead of July’s consumer price index report, out Thursday.

“Philstocks Financial Assistant Research Manager Claire Alviar said “The local bourse dropped while investors await some key economic data to be released this week. China’s disappointing trade data weighed on sentiment as well.”She noted that China saw a 14.5 percent year-on-year drop in exports while imports also dropped by 12.4 percent.

United Kingdom United Kingdom Latest News, United Kingdom United Kingdom Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

‘Rice stocks are more than enough for next few months’ | Raadee S. SausaTHE Department of Agriculture (DA) has clarified that National Food Authority (NFA’s) stocks are not at alarming levels, considering the buffer stock at 300,000 to 350,000 metric tons at any given time. “Our rice supply is more than enough for our needs for the next few months,” DA Undersecretary Leocadio…
Source: BusinessMirror - 🏆 19. / 59 Read more »

Profits at Warren Buffett’s firm reach $36B as stocks surgeProfits rebounded at Warren Buffett’s conglomerate along with the value of its $353- billion stock portfolio in the second quarter to hit $35.9 billion, and many of Berkshire Hathaway’s assorted businesses also performed well. | AP
Source: inquirerdotnet - 🏆 3. / 86 Read more »