Philippines share prices closed 1.7 percent higher on Friday, lifted by key blue chips, dealers said. The composite index gained 35.33 points to 2,103.63 while the all-shares index gained 1.64 percent to 1,367.33. There were 62 gainers, 31 losers and 40 unchanged.
Volume totalled 2.327 billion shares worth 2.49 billion pesos (51.21 million dollars). The local currency traded at 48.57 to the dollar on Friday morning from 48.65 at its close on Thursday. Meralco gained 11.82 percent to 104 pesos. Philippine Long Distance Telephone Co rose 0.69 percent to 2,180 pesos. Filinvest Land Inc rose 8.69 percent to 50 centavos while Ayala Land Inc rose 3.22 percent to 6.40 pesos.
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