Philippines shares flat

Philippines share prices closed flat on Tuesday as last-minute selling offset earlier gains, dealers said. The composite index edged down 0.26 points to close at 2,908.24 while the all-shares index was also down marginally at 1,826.80 points. There were only 18 gainers against 104 losers and 42 that were unchanged.
Volume amounted to 2.458 billion shares worth 8.806 billion pesos (185 million dollars). Top-traded Philex Mining Corp bucked the trend to rise by 13.04 percent to 13 pesos. Philippine Long Distance Telephone Co fell 0.78 percent to 2,575 pesos.