Monday, February 15, 2010
Philippine stocks post modest gain
MANILA, Philippines—LOCAL stocks modestly gained on Monday, the first business day of the "Year of the Metal Tiger" under the Chinese Lunar calendar, on follow-through buying from last week's strong recovery.
The main-share Philippine Stock Exchange index rose by 13.59 points or 0.46 percent to close at 2, 963.24 as bargain-hunting benefited all sectors except for the property counter.
The gains were led by the mining/oil, industrial and holding firms whose indices went up by 2.2 percent, 1.3 percent and 1.08 percent, respectively.
There were 56 advancers as against 43 decliners and 60 unchanged stocks at a relatively thin value turnout of P2.1 billion.
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