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Bacolod City, PhilippinesWednesday, July 11, 2012
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Local stocks fall

MANILA – The local stocks capped the day on a loss after a bright performance in the morning trade due to the increased uncertainties on global growth but the peso resisted threats and even strengthened against the dollar.

The composite index contracted by 23.46 points or 0.45 percent to 5,240.28 points from Monday’s 5263.74 points.

Also, the broader all shares index declined by 7.68 points or 0.22 percent to 3,482.82 points from the previous day’s 3,490.5 points.

Among the sectoral indices, four namely the financials, industrial, services and mining and oil registered gains while the holding firms and property indices posted declines.

Value turnover reached P5.19 billion after 1.62 billion shares changed hands.

Losers surpassed gainers at 81 to 76 while 47 were unchanged.

China’s imports expanded by 6.3 percent year-on-year last June, lower than the 12.7 percent forecast, casting more doubts on the growth path of the world’s largest economy and its impact on global growth.

On the other hand, the local currency improved against the dollar after gaining P0.08 to 41.86 from Monday’s 41.94 finish.

It opened at 41.93, its lowest trade for the day, and went up to 41.84 resulting to an average of 41.87.

Volume of trade reached $1.02 billion, slightly higher than the $901.38 million in the previous day.*PNA


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Local stocks fall