Philippines share prices closed 0.93 percent higher on Tuesday on news that June's inflation had fallen to a 20-year low, dealers said. The composite index rose 22.66 points to 2,471.76 while the all-shares index gained 0.89 percent to 1,582.80. There were 60 gainers against 34 losers and 52 unchanged.
A total of 832 million shares worth 1.635 billion pesos (33.9 million dollars) changed hands. The local currency traded at 48.221 to the dollar in the morning. Manila Electric Co (Meralco) gained 5.22 percent to 161 pesos while Philex Mining Corp rose 1.35 percent to 7.50 pesos. Philippine Long Distance Telephone Co was unchanged at 2,365 pesos while Metropolitan Bank and Trust Co fell 1.56 percent to 31.50 pesos.
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