Business News
Philippine shares rise 3 per cent on European Central Bank move
Oct 7, 2011, 7:59 GMT
Manila - Philippine shares on Friday rose 3.05 per cent buoyed by the European Central Bank's affirmation of support for European banks amid weakness in the global economy.
The Philippine Stock Exchange's 30-share composite index gained 118.74 points to close at 4,009.26, up from Thursday's finish of 3,890.52
For the whole bourse, a total of 7.59 billion shares valued at 5.29 billion pesos (121.49 million dollars) were traded.
Gainers outpaced losers 103 to 28, while 44 issues were unchanged.
Stock analysts said investor confidence in the local market was also boosted by gains in Wall Street and key Asian markets.
COMMENT
blog comments powered by DisqusLatest Headlines in Business
- 1. US unemployment drops further, but figures disappoint
- 2. Japan stocks down as euro debt outweighs positive US data
- 3. Iraq resumes oil flow after pipeline blast in Turkey
- 4. Spanish bond auction lifts eurozone worries, sinks Japan stocks
- 5. ECB holds rates, rules out early exit from emergency measures
Older Talkback
