MANILA – Local stocks ended in the red yesterday and the peso traded sideways due to several factors like the Euro debt issues, the looming fiscal cliff in the United States as well as the slowing growth in China.

The composite index is down by 0.42 percent or 22.29 points to 5,323.81 points from last Friday’s 5,346.10 level.

Similarly, the broader all shares index contracted by 0.24 percent or 8.71 points to 3,540.94 points from the previous trading day’s 3,549.65 points.

Only the property index registered gains among the sectoral indices at 2,073.91 points, up by 0.03 points.

Trading is thin at 524.08 million with value turn-over at P2.5 billion.

Losers led gainers at 76 to 51 while 42 stocks were unchanged.

Relatively, the local currency opened at 41.82 against the dollar, a tad weaker than last Friday’s 41.78.

It traded between 41.85 and 41.80 resulting to an average of 41.83 for the unit.

Volume of trade reached $438.4 million.*PNA

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