Philippines share prices closed 0.83 percent higher on Thursday, extending gains as investors continued to take positions ahead of the release of first half corporate results, dealers said. The continued easing of political tensions helped underpin the generally upbeat sentiment which brought the market to a three-week high, they said.
The Philippine Stock Exchange composite index rose 16.05 points to 1,960.76 after trading between 1,944.71 and 1,964.30. Volume was 828.2 million shares worth 1.01 billion pesos (18.12 million dollars.)
The broader all-shares index rose 6.78 points to 1,181.80.
Manila Water Co was the most active stock, rising 30 centavos to 6.90 pesos.
Philippine Long Distance Telephone rose 25 pesos to 1,585, while rival Globe Telecom Inc advanced 20 to 870.
Ayala Land Inc gained 20 centavos to 8.10, while its parent Ayala Corp advanced 2.50 pesos to 317.50.
SM Investments Corp retreated three pesos to 220 pesos while unit SM Prime Holdings gained 10 centavos to 7.40 pesos.
San Miguel Corp A shares, limited to local investors, gained 50 centavos to 62.50 pesos while San Miguel Corp B shares, available to foreign and local investors, were unchanged at 101 pesos.