RP share prices get boost from blue-chip gains

MANILA, Philippines - Gains posted by blue-chip issues slightly lifted local share prices on Tuesday, analysts said. The 30-company Philippine Stock Exchange index rose 21.73 points or 0.8089 percent to 2,708.25 while the all-share index climbed 9.46 points or 0.5691 percent to 1,671.85. Gainers outpaced losers 54 to 30 while 68 stocks were unchanged. Volume traded reached 1.518 billion valued at P1.276 billion. Jet Lazaro, Abacus Securities trader, said the slight uptick in the main index was owing to the gains made by blue-chip issues. "It was driven by blue-chip issues. There was no news last night as the US was on a Labor Day holiday," he said. Developer Megaworld Corp. leaped P0.06 or 4.0541 percent to P1.54. Property company Vista Land & Lifescapes Inc. jumped P0.12 or 5.3571 percent to P2.36. Telecommunications giant Philippine Long Distance Telephone Co. surged P5 or 0.1832 percent to P2,735. Ayala-controlled Bank of the Philippine Islands soared P0.50 or 1.0753 percent to P46.50. Globe Telecom Inc., the country's second-largest telecommunications company, went up P5 or 0.4651 percent to P1,080. - GMANews.TV