Philippines share prices closed 0.12 percent lower on Wednesday, pulled down by slumping markets overseas, continuing bad news regarding swine flu and weakness in US banks, dealers said. The composite index closed 2.45 points lower at 2,061.05 while the all-shares index dropped 0.09 percent to 1,341.06.
Volume totalled 3.43 billion shares worth 1.69 billion pesos (34.7 million dollars). The local currency traded at 48.724 to the dollar on Wednesday morning compared to 48.995 at the close of trading on Tuesday. There were 42 gainers, 33 losers and 49 unchanged.
Philippine Long Distance Telephone Co fell 0.69 percent to 2,160 pesos while Globe Telecom Inc slipped 1.23 percent to 805 pesos. However Filinvest Land Inc gained 10.2 percent to 54 centavos while fellow real estate firm, Megaworld Corp rose 4.5 percent to 70 centavos.
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