PSEi slides for 8th day

Posted at 03/20/13 6:15 PM

MANILA, Philippines - The Philippine Stock Exchange index is down for an eighth straight day, its longest losing streak since April 2008.

The index settled at 6,419.62, down by 0.10%, while the all-shares index fell 0.15% to 4,042.86.

Decliners beat advancers 92 to 62, while 45 issues remained unchanged.

Analysts have warned of more losses ahead of the Holy Week break.

Banks are among the biggest losers on Wednesday, as Metropolitan Bank and Trust Co. slipped 1.4%, Security Bank Corp. tumbled nearly 2%, and the Bank of the Philippine Islands dropped 0.97%.

Philex Mining Corp. also fell 1.3% on dim outlook for metal demand. -- ANC