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Published June 3, 2021, 4:27 PM
The local stock market declined as investors stepped on the brakes to pocket some gains from the surge in past days.
The main index dropped 49.82 points or 0.73 percent to close at 6,791.87 as the Property sector led the retreat although the Mining and Oil counter posted strong gains while the Industrial sector held its ground.
Volume rose to 3.7 billion shares worth P18.78 billion mainly due to special block sales as gainers beat losers 114 to 86 with 51 unchanged.
“Philippine shares finally succumbed to profit taking after successive days in the green as investors refocused on the US with the release of the Beige Book which showed that the economy grew moderately in April and May, as consumer spending and manufacturing activity picked up despite supply bottlenecks,” said Regina Capital Development Corporation Managing Director Luis Limlingan.
Union Bank of the Philippines (UnionBank) recently held the virtual groundbreaking ceremony for its ‘Innovation Campus’ last May 26 via Zoom, marking a major milestone in the Bank’s digital transformation journey that started five years ago and garnering thecommendation of top figures in the country
The United Nations Development Programme (UNDP) on Tuesday welcomed the filing of a resolution before the House of Representatives seeking to investigate the alleged irregularities and setbacks on the P1.36 billion free-Wi-Fi project implemented in partnership with the Department of Information and