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LOCAL share prices closed higher on Thursday, lifted by the upturn
on Wall Street, dealers said.
The composite index rose 19.92 points to
2,393.62 points. The all-share index rose 0.4 percent to 1,515.88
points.
There were 38 advancers compared to 49 decliners
and 50 counters that remained unchanged.
Turnover amounted to P1.782 billion compared
with P1.648 billion on Wednesday.
“We followed what happened in the United
States last night when the market went up due to the drop in oil
prices and the settling of some of the worries of investors
regarding financial instability,” said Ron Rodrigo of Daiwa
Securities Inc.
“We have also reported some good economic
data,” recently, he said, citing the announcement on Wednesday
that the country’s budget deficit in the first half of the year
was smaller than expected.
“Our investors have already discounted the
fact that the Monetary Board will likely raise key rates,” in
their meeting later in the day, he added.
Index heavyweight Philippine Long Distance
Telephone Co. rose 0.8 percent to P2,395 while rival Globe Telecom
lost 0.5 percent to P1,000.
Bank of the Philippine Islands gained 5.4
percent to P39.
SM Prime Holdings gained 2.89 percent to P7.10.
San Miguel Corp. saw its A shares and B shares
stay unchanged at P40 and P41, respectively.
-- AFP
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