Stock market, peso slump as appetite for risk weakens

PHILIPPINE shares retreated and the peso also slumped on Monday as investors shunned risk assets amid heightened Middle East worries, with rising oil prices and a weaker peso adding pressure on market sentiment. The benchmark Philippine Stock Exchange index (PSEi) fell 0.99 percent, or 58.97 points, to close at 5,879.41 on Monday, while the broader All Shares index also ended lower. The peso weakened by 22 centavos to P61.69:$1, a result Rizal Commercial Banking Corp. chief economist Michael Ric