|
LOCAL share prices closed higher Thursday on bargain
hunting following a downturn in recent weeks, dealers said.
The composite index rose 56.05
points to 2,566.37 points, while the all-shares index rose 1.8
percent to 1,617.55 points. There were 61 gainers to 57 losers and
51 that were unchanged.
Volume amounted to 1.839 billion
shares worth P2.411 billion.
”It is a continuation of the bargain hunting that began this week
after the market weakened earlier,” said April Lee Tan of
Citiseconline.
”Our banks are not that weak so
we think we are in a good position to cope with what is happening
with Wall Street,” she said.
Philippine Long Distance
Telephone Co. rose 2.32 percent to P2,645.
Ayala Land Inc. gained 1.05 percent to P9.60. However, Ayala Corp.
was unchanged at P292.50.
San Miguel Corp. saw its A shares
gain 3.7 percent to P56 while its B shares rose 5.55 percent to P57.
--AFP
|
