Stocks dip on wider BOP deficit

  • 📰 manilabulletin
  • ⏱ Reading Time:
  • 31 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 16%
  • Publisher: 51%

United States News News

United States United States Latest News,United States United States Headlines

The local stock market dipped due to sobering US and domestic economic data.

The main index declined by 18.63 points or 0.30 percent to close at 6,256.17 as the Property sector ked the retreat while Banks and Mining firms bucked the trend. Volume grew to 807 million shares worth P6.09 billion aa gainers beat losers 107 to 69 with 60 unchanged.“Philippine stocks continued to consolidate as traders bet that markets worldwide have hit bottom with tech stocks,” said Regina Capital Development Corporation Managing Director Luis Limlingan.

He noted that, “a report from the Mortgage Bankers Association pointed to more pain for home shoppers as they deal with higher prices and interest rates. Mortgage demand declined while existing home sales in June fell. In the local front, the Balance of Payment deficit hits $1.57 billion in June from the $312 million deficit in the same month last year.

Philstocks Financial Senior Supervisor for Research Japhet Tantiangco said “The local bourse fell further as resurfacing concerns over COVID-19 risks amid the detection of more cases in the country with Omicron sub-variants weighed on the market.”

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 25. in US
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

United States United States Latest News, United States United States Headlines

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

Stocks rise amid weak tradingThe local stock market ended on a positive note after trading slightly lower most of the day as investors wait for fresh cues.
Source: manilabulletin - 🏆 25. / 51 Read more »

How PSEi member stocks performed — July 20, 2022 - BusinessWorld OnlineHere’s a quick glance at how PSEi stocks fared on Wednesday, July 20, 2022. READ:
Source: bworldph - 🏆 9. / 68 Read more »

How PSEi member stocks performed — July 20, 2022 - BusinessWorld OnlineHere’s a quick glance at how PSEi stocks fared on Wednesday, July 20, 2022. READ:
Source: bworldph - 🏆 9. / 68 Read more »