Philippines shares firmer

Philippines shares price closed 0.99 percent higher on Friday, with sentiment boosted by good news on local inflation and an upturn in the US market, dealers said. The composite index gained 27.68 points to 2,830.99 while the all-shares index rose 0.79 percent to 1,804.31. There were 86 gainers against 31 losers and 53 unchanged.
Volume reached 4.746 billion shares worth 3.288 billion pesos (67.47 million dollars), while the local currency traded at 48.726 to the dollar. Top-traded Energy Development Corp gained 4.35 percent to 4.80 pesos while Manila Water Co rose 6.45 percent to 16.50 pesos. First Gen Corp gained 5.37 percent to 24.50 pesos while Megaworld Corp rose 4.05 percent to 1.54 pesos.