Philippines share prices closed 2.7 percent higher on Friday, lifted by the upturn in the US stock market, dealers said. The composite index rose 50.41 points to 1,942.48 points while the all-shares index gained 1.96 percent to 1,244.63 points. There were 66 gainers, 23 losers and 40 unchanged.
Volume turnover totalled 1.163 billion shares worth 2.675 billion pesos (56.6 million dollars). "It's a technical rebound and it is also trailing Wall Street," said Lisha Alizer of DA Market Securities.
International Container Terminal Services Inc rose 2.13 percent to 12.00 pesos while Manila Electric Co gained 6.1 percent to 69.50 pesos. Philippine Long Distance Telephone Co rose 2.03 percent to 2,265.00 pesos. San Miguel Corp saw its A shares remain unchanged at 40 pesos while its B shares were also unchanged at 40.50 pesos.