MANILA – Philippine equities retreated to the 7,500-level anew on Monday, fuelled by fears of a Greek imminent debt default.
The barometer stock exchange index declined 54.67 points to 7,567.38 from Friday’s 7,622.05 close.
Local brokerage firm RCBC Securities said the local bourse was dragged down by foreign selling, as investors head towards safer havens in the light of the uncertainty in the Euro zone.
Greek Prime Minister Alexis Tsipras announced a July 5 referendum on whether his country should accept creditors’ demand, ensuring it will default on June 30 debt payment deadline.
Value turnover reached Php5.9 billion as 1.18 billion shares changed hands. Decliners won advancers, 109 to 63, while 43 issues were unchanged. (PNA)
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