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Philippine shares rise more than 4 per cent

Sahil Nagpal 31 October 2008

Philippine shares rise more than 4 per cent Manila - Philippine share prices rose 4.62 per cent on Friday as investors snapped up undervalued stocks.

The Philippine Stock Exchange's 30-share composite index gained 86.16 points to close at 1,951.09 points from Thursday's finish of 1,864.93.

A total of 1.78 billion shares valued at 3.10 billion dollars (63.26 million dollars) were traded.

Gainers outpaced losers 99 to 16, while 32 issues were unchanged.

Analysts said investors could not resist stocks that have been grossly undervalued while some companies bought back their shares in order to enhance their value. (dpa)

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