Wednesday, March 21, 2007
Shares rise on Wall Street, PLDT advance (3 p.m.)
MANILA -- Philippine shares advanced Wednesday, tracking a rise in Philippine Long Distance Telephone Co.'s American depository receipts and gains on Wall Street.
The benchmark 30-company Philippine Stock Exchange Index gained 51.09 points, or 1.7 percent, at 3,090.47, after losing 0.07 percent Tuesday.
"It's uncertain whether today's rise will continue tomorrow," said Accord Capital Equities analyst Lawrence de Leon, citing the absence of fresh leads and the usual sluggish trading ahead of the Easter break.
PLDT jumped 4.1 percent at P2,390 following the 3.6 advance in the company's American depository receipts in New York overnight.
Mall operator SM Prime Holdings Inc. rose 2.3 percent at P11, Equitable PCI Bank gained 3 percent at P102.00 and conglomerate JG Summit Holdings Inc. was up 2 percent at P12.75.
Advancers led decliners 90 to 23, while 50 stocks were unchanged.(AP) |
