Local bourse remains in red

The benchmark index on Wednesday ended in the red after shedding 95.78 points, or 1.41 percent, to close at 6,714.33.

All sectors were down, with Financials as the biggest loser, slipping by 1.84 percent, followed by Industrials and Holding Firms, down by 1.79 percent and 1.33 percent, respectively.

Only three index members gained, with Converge ICT Solutions Inc. having the biggest gain at 3.01 percent. Bloomberry Resorts Corporation was at the bottom, following its dismal third-quarter earnings results.

According to Claire Alviar, a research analyst at Philstocks Financial Inc., investors continued their assessment of the US election results and Wall Street’s negative performance overnight, buoying the local market.

Q3 earnings assessed

“At home, local investors were also assessing third-quarter earnings performance. So far, results have been mixed: some sectors, like banking, are still posting impressive growth, while others, such as leisure, are showing dismal results,” she added.

The net value turnover was P6.48 billion.

The peso closed at P58.735, down from 58.831 on Tuesday.

It opened the day at 58.75 and traded between 58.66 and 58.777.