Philippines share prices closed 0.3 percent higher Wednesday, on last-minute bargain hunting with investors squaring off positions on the eve of the long Easter weekend, dealers said.
Mining scrips took center stage on the day because of rising metal prices, they added. The composite index added 6.59 points to 2,223.97, the day's high, off a low of 2,215.01.
The broader all-shares index ended down a marginal 0.07 point to 1,101.11.
Gainers outnumbered losers 61 to 33, while 49 stocks ended unchanged. Volume was 5.38 billion shares worth 1.2 billion pesos (23.43 million dollars).
Financial markets here will be closed Thursday and Friday for public holidays and will reopen on Monday.
"We will likely see more activities after the break as investors accumulate shares ahead of first-quarter earnings results," said Astro del Castillo of First Grade Holdings.
He said the market had been expected to trade flat Wednesday, but that last-minute buying of select blue chips and sustained interest in mining issues propelled the main index's advance.
Dealers expect mining counters to continue to rise after the break, given the high prices of metals due to surging demand among inflation-wary investors.
Ayala Land led the gainers, ending up 25 centavos to 11.25 pesos.
Philippine Long Distance Telephone retreated 10 pesos to 1,980. Bank of the Philippine Islands was down 50 centavos to 60.50 pesos.
Lepanto Consolidated Mining A-shares, which are restricted to Filipino investors, gained three centavos to 35 centavos. Lepanto B-shares, available to foreigners, were also up three centavos to 37 centavos.
Philex Mining A-shares gained 10 centavos to 3.80 pesos, while Philex B shares rose 15 centavos to 3.85 pesos.
San Miguel A-shares ended steady at 60 pesos and San Miguel B-shares were flat at 78.50 pesos.
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