Philippines shares lower

Philippines share prices closed 0.5 percent lower on Tuesday as investors took profits after the index hit a two-month high on Monday, dealers said. The composite index fell 12.66 points to 2,755.86 points. The all-share index fell 0.86 percent to 1,713.86 points. There were 29 gainers versus 83 losers and 39 unchanged stocks.
Volume amounted to 1.908 billion shares worth 2.936 billion pesos (65.9 million dollars). Index leader Philippine Long Distance Telephone Co bucked the trend to rise by 0.18 percent to 2,715 pesos. However, Ayala Land Inc fell by 2.27 percent to 10.75 pesos while Globe Telecom dropped 1.65 percent to 1,185 pesos. San Miguel Corp saw its A and B shares remain unchanged at 44.50 pesos and 45 pesos respectively.