PHL share prices close higher on back of strong corporate earnings

Philippine share prices rallied after investors saw the robust earnings of companies listed on the Philippine Stock Exchange, a trader said Thursday. "Investors have already seen the audited financial statements of listed companies. They have seen their potential to grow," said trader Emmanuel Soller of Equitiworld Securities Inc. The PSE index gained 60.34 points or 1.6 percent to close at 3,834.05, according to the PSE's online market information as of 12:10 p.m. Value turnover reached P4.302 billion, with more than 2.041 billion shares changed hands. Advancers outpaced decliners, 95 to 33, while 43 issues remained unchanged during the trading session. Soller said the index still inched up even though many investors are worried that the recent wave of uprisings in the Middle East could spread and lead to interruptions in the global flow of oil. "The developments abroad do not have much impact on the domestic front. Na-o-offset yung worries ng investors tungkol sa Middle East ng mga positive income statements ng companies," he said. He said the market will move sideways next week "but in an upward bias." "Maganda ang mood sa market ngayon. Investors seemed to have overcome selling pressure," added Soller. — JE/OMG, GMA News