Philippines share prices closed 2.8 percent higher on Monday due to the rally on Wall Street and a fall in world crude prices, dealers said. The composite index rose 75.71 points to 2,768.52, its best finish since June 4 at 2773.12. The all-shares index rose 1.7 percent to 1,728.95.
Gainers outnumbered losers 83 to 34, while 46 stocks ended unchanged. Volume amounted to 3.77 billion shares worth 3.073 billion pesos (692.5 million dollars). Philippine Long Distance Telephone Co gained 3.8 percent to 2,710 pesos. Globe Telecom rose 1.68 percent to 1,205. Ayala Land was up 4.8 percent to 11. San Miguel Corp saw its A shares rise by 2.3 percent to 44.50 while its B shares gained 1.12 percent to 45.