Philippines shares jump

Philippines share prices closed 1.93 percent higher on Wednesday in a technical rebound after a sharp fall the previous day, dealers said. The composite index gained 45.77 points to 2,415.83 while the all-shares index rose 1.86 percent to 1,557.29. There were 99 gainers against 14 losers and 39 that were unchanged. Turnover reached 1.08 billion shares worth 2.167 billion pesos (44.89 million dollars).
Bank of the Philippine Islands gained 1.20 percent to 42 pesos while Ayala Corp rose 0.89 percent to 282.50 pesos as Globe Telecom gained 3.80 percent to 955 pesos. However index leader Philippine Long Distance Telephone Co bucked the trend, falling 0.43 percent to 2,315 pesos.