Philippines share prices cl0osed 1.32 percent higher on Wednesday, lifted by strong results of key listed companies in the three months to March, dealers told AFP. The composite index rose 29.69 points to 2,283.60 while the all-shares index went up to 0.73 percent 1,460.22. There were 74 gainers, 36 losers and 43 that were unchanged.
Volume totalled 2.451 billion shares worth 3.56 billion pesos (75.35 million dollars). The local currency traded at 47.27 to the dollar on Wednesday morning from the previous day's close of 47.25 pesos.
"One factor is the announcement by key local companies of better earnings" in the first quarter, said Jeng Calma of A and A Securities Inc. "It came out simultaneously with the rise of the US market," which further boosted the local market, she added. Philippine Long Distance Telephone rose 3.8 percent to 2,310 pesos while the Energy Development Corporation rose 1.3 percent to 3.90 pesos. Metropolitan Bank and Trust Company fell to 2.94 percent to 33 pesos while Megaworld Corp was unchanged at 92 centavos.
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