Philippines share prices closed 0.65 percent higher on Thursday after further gains on Wall Street and support for banks after the extension of a law that allows sales of idle assets, dealers said.
The composite index added 13.86 points to 2,141.77. It traded between 2,127.91 and 2,147.27. The broader all-shares index advanced 4.40 points to 1,040.07.
Volume reached 568.5 million shares worth 1.7 billion pesos. Gainers outnumbered losers 50 to 35, while 49 stocks ended unchanged. Bank of the Philippine Islands led gainers, ending up 2.00 pesos at 61.00 pesos.
SM Investments Corp retreated 1.00 peso to 223.00 pesos. Its unit SM Prime Holdings Corp was up 10.00 centavos at 8.00 pesos.
Philippine Long Distance Telephone Co gained 5.00 pesos to 1,830.00 pesos while rival Globe Telecom Inc advanced 15.00 pesos to 865.00 pesos. San Miguel Corp A shares were unchanged at 61.00 pesos, while San Miguel B ended steady at 78.00 pesos.
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