AGL 37.89 Decreased By ▼ -1.69 (-4.27%)
AIRLINK 126.00 Decreased By ▼ -5.22 (-3.98%)
BOP 6.83 Increased By ▲ 0.02 (0.29%)
CNERGY 4.45 Decreased By ▼ -0.26 (-5.52%)
DCL 7.89 Decreased By ▼ -0.55 (-6.52%)
DFML 37.32 Decreased By ▼ -4.15 (-10.01%)
DGKC 77.50 Decreased By ▼ -4.59 (-5.59%)
FCCL 30.60 Decreased By ▼ -2.50 (-7.55%)
FFBL 69.02 Decreased By ▼ -3.85 (-5.28%)
FFL 11.89 Decreased By ▼ -0.37 (-3.02%)
HUBC 105.50 Decreased By ▼ -5.24 (-4.73%)
HUMNL 13.50 Decreased By ▼ -1.01 (-6.96%)
KEL 4.67 Decreased By ▼ -0.52 (-10.02%)
KOSM 7.28 Decreased By ▼ -0.33 (-4.34%)
MLCF 36.60 Decreased By ▼ -2.30 (-5.91%)
NBP 65.30 Increased By ▲ 1.29 (2.02%)
OGDC 181.00 Decreased By ▼ -11.82 (-6.13%)
PAEL 24.58 Decreased By ▼ -1.10 (-4.28%)
PIBTL 7.15 Decreased By ▼ -0.19 (-2.59%)
PPL 144.00 Decreased By ▼ -10.07 (-6.54%)
PRL 24.40 Decreased By ▼ -1.43 (-5.54%)
PTC 16.40 Decreased By ▼ -1.41 (-7.92%)
SEARL 78.61 Decreased By ▼ -3.69 (-4.48%)
TELE 7.20 Decreased By ▼ -0.56 (-7.22%)
TOMCL 32.01 Decreased By ▼ -1.45 (-4.33%)
TPLP 8.15 Decreased By ▼ -0.34 (-4%)
TREET 16.10 Decreased By ▼ -0.52 (-3.13%)
TRG 54.89 Decreased By ▼ -2.51 (-4.37%)
UNITY 27.50 Decreased By ▼ -0.01 (-0.04%)
WTL 1.29 Decreased By ▼ -0.08 (-5.84%)
BR100 10,116 Decreased By -388.7 (-3.7%)
BR30 29,567 Decreased By -1659.1 (-5.31%)
KSE100 94,574 Decreased By -3505.6 (-3.57%)
KSE30 29,445 Decreased By -1113.9 (-3.65%)

Philippines stocks closed higher for a third straight session on Thursday on bargain hunting in select blue chips, led by dominant phone firm PLDT and second-ranked Globe Telecom Inc.
The main index added 8.78 points, or 0.62 percent, to 1,433.11 points, boosted by a 2.63 percent jump in Philippine Long Distance Telephone Company (PLDT). Globe Telecom Inc, jointly owned by conglomerate Ayala Corp and Singapore Telecommunications, rose 1.22 percent, or 10 pesos, to 830 pesos.
"The rise could be due to seasonal window-dressing activities of portfolio managers," said RCBC Securities stocks analyst Edwin Mendoza.
"Once their activities are over, the market may revert back to its sideways direction." The main index is still down 0.64 percent so far this year.
Analysts said the arrest of two more members of an Islamic militant cell, which the government said was planning bomb attacks on shops and trains in Manila had, eased security fears.
Mendoza said uncertainties over who would win the May 10 election and worries over the economy would keep investors from investing further in stocks.
The IMF said on Wednesday it was growing more concerned about the Philippines' high public deficit and debt levels, saying there was an urgent need for the government to implement economic reforms.
Value turnover dropped to 498.28 billion pesos from Wednesday's 1.24 billion pesos.
Gainers beat losers 26 to 23 and there were 37 stocks unchanged.
Pilipino Telephone Corp (Piltel), the country's third-largest mobile phone firm and 45-percent owned by PLDT, finished 1.16 percent or two centavos higher at 1.74 pesos. B share of Manila Electric Company (Meralco) jumped 1.03 percent, or 25 centavos, to 24.50 pesos, on bargain-hunting.

Copyright Reuters, 2004

Comments

Comments are closed.