Philippines share prices may breach the 3,000-point level next week amid growing optimism about business prospects, analysts said on Friday.The composite index gained 0.34 percent or 10.17 points over the week to close at 2,932.99 on Friday.
Average daily turnover was 1.103 billion shares worth 3.359 billion pesos (71.5 million dollars) this week. "We are starting to see definite signs of a recovery," said Lawrence de Leon of Accord Capital Equities Inc.
"Overall, the general sentiment is still positive. Since we have gained much from the March low, some investors may be looking at the 3,000 level as the resistance level," de Leon said. The index fell to 1,769.67 on March 16, its lowest closing level since November 21 when the market toppled along with Wall Street and other indices.