Philippines share prices closed 0.32 percent higher on Monday on last-minute buying of blue chips, dealers said. The composite index added 9.38 points to end at 2,932.20 while the all shares index edged up 6.53 points or 0.35 percent to 1,853.59.
A total of 1.09 billion pesos worth 2.24 billion pesos (47.86 million dollars) changed hands although decliners outpaced advancers 58 to 43, with 65 other issues ending unchanged.
The peso traded at an average of 46.867 to the dollar in the morning. "The market managed to rebound after early sluggishness. Investors are positioning ahead of third-quarter results," Ron Rodrigo of DBP-Daiwa Securities told Dow Jones Newswires.
Manila Electric Co rose 6.56 percent to 211 pesos while Philippine Long Distance Telephone dropped 0.96 percent to 2,565 pesos. First Philippine Holdings added 3.57 percent to 43.50 pesos but unit Energy Development Corp fell 1.03 percent to 4.80 pesos.
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