PESO at P40.6, PULLS DOWN STOCKS
Manila, Dec. 25, 1997 - Local stocks fell yesterday due to the continued downswing of the Philippine currency.
The main index lost 31.52 points, or 1.67%, to close at 1,855.66 with losers outpacing gainers 79 to 22.
A P2.3 billion block sale of Jollibee Corporation caused volume to surge to P3 billion. Otherwise, the rest of the market stayed dull.
Meantime the peso slid to P40.626/dollar yesterday, from P39.859 the day before.
Reported by: Sol Jose Vanzi
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