Philippines share prices closed 0.4 percent higher on Friday in light trade as investors worry about inflation and rising oil prices, dealers said. The composite index rose 10.70 points to 2,849.28 after trading between 2,830.97 and 2,853.08.
The all-share index edged up 1.89 points or 0.1 percent at 1,754.76. But decliners outnumbered advancers 59 to 40, while 56 ended flat. Turnover was leaner at 1.7 billion pesos (39.16 million dollars) compared to Thursday's 2.1 billion pesos.
Philippine Long Distance Telephone was up 1.1 percent at 2,675 pesos. Manila Electric Co fell 4.5 percent to 64 pesos ahead of the company's annual stockholders' meeting on May 27. San Miguel A slipped 1.2 percent to 42.50 pesos. Its B shares were flat at 45 pesos.
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