THE stock market fell for third straight session on Tuesday as investor sentiment was dampened by emerging eurozone concerns. The benchmark Philippine Stock Exchange index (PSEi) dropped 0.53 percent or 40.54 points to close at 7,602.36. “Italy’s political woes are scaring off global investors so they are in a bearish mode,” Timson Securities, Inc. equity trader Jervin de Celis said. EU member Italy has been plunged into a political crisis after President Sergio Mattarella rejected a choice for finance minister, scuppering the formation of a new government and raising the prospect of new elections. Diversified Securities, Inc. equity trader Aniceto Pangan also blamed worries over Italy, which affected European markets and subsequently spread worldwide.

Source: Manila Times May 29, 2018 16:30 UTC