PSE index slightly up in moderate trading

Philippine share prices ended slightly higher on Monday as worries over a slowing global recovery due to rising fuel prices was tempered by the positive outlook for corporate earnings results of listed companies. "The market is still quite cautious. [There is] no certainty yet on what will happen to Libya. This sentiment is offset by investors' bullishness on corporate earnings results," said trader Jasper Jimenez of Banco de Oro Securities Inc. The Philippine Stock Exchange index gained 3.77 points or 0.1 percent to close at 3,886.48, according to the PSE's online market information as of 12:10 p.m. Value turnover totaled P3.517 billion, with more than 1.415 billion shares changed hands. Decliners outpaced advancers, 65 to 51, while 49 issues remained unchanged during the trading session. Most Asian stock markets fell due to concerns over increasing oil prices which rose to their highest level in more than two years after the conflict in Libya escalated. — JE, GMA News