Philippines share prices closed 0.17 percent higher on Wednesday on selective interest but trade was sluggish ahead of the Easter holiday break next week, dealers said.
They said they expect the market to trade in a narrow range with volumes thin ahead of public holidays on Thursday and Friday of next week. aThe composite index rose 3.70 points at 2,197.90 after trading between 2,187.22 and 2,200.45. Volume was 1.96 billion shares worth 970.36 million pesos (19.02 million dollars).
The broader all-shares index gained 4.72 points at 1,078.72. Gainers led losers 69 to 26, with 54 stocks unchanged. The peso was at 50.99 to the dollar in midday trade.
Philippine Long Distance Telephone was top-traded, ending unchanged at 1,935 pesos. Rival Globe Telecom advanced 15 pesos to 885 after a company executive said it expects further foreign exchange gains to boost 2006 profits. Ayala Corp fell five pesos to 352.50 while Ayala Land retreated 25 centavos to 11.25 pesos. Bank of the Philippine Islands (BPI) was steady at 62 pesos. San Miguel A shares were steady at 60.50 pesos while its B-shares rose one peso to 80.
Comments
Comments are closed.