Philippines shares fall

Philippines share prices closed 1.43 percent lower on Monday due to profit-taking after a four-day rally, dealers said. The composite index gave up 29.61 points to 2,043.20 while the all-shares index fell 0.55 percent to 1,321.72 points. There were 43 gainers, 43 losers and 41 unchanged.
Volume totalled 1.93 billion shares worth 2.67 billion pesos (55.8 million dollars). The local currency traded at 47.839 to the dollar on Monday morning compared to 48.03 at the close on the previous trading day. Energy Development Corp fell 14.6 percent to 3.80 pesos while Bank of the Philippine Islands dropped 1.34 percent to 37 pesos. Philippine Long Distance Telephone was unchanged at 2,220 pesos.