PHL share prices close mixed

Philippine share prices closed mixed on Wednesday as higher foreign direct investments recorded in the country in January offset the impact of slower exports. The 30-company Philippine stock Exchange index inched up 4.20 points or 0.1 percent to 4,203.68 while the all shares shed 7.29 points or 0.2372 percent at 3,065. Market breadth, however, was negative with 75 losers beating 46 gainers. Fortyone other stocks closed flat. Volume traded reached 830.17 million shares valued at P4.31 billion. "Widened fuel subsidy, and positive FDI flow for January, provided the positive push to equities, offsetting the impact of slower exports and losses sustained by US and European markets," said Justino Calaycay Jr. of Accord Capital. On Tuesday, the government reported that exports slowed to 8.2 percent but FDI in January hit $207 million or 21.8-percent higher than the same month last year. The five most actively-traded issues reflected the market’s mood, with three retreating and two advancing. Semirara Mining Corp., the day's top traded, fell P14 or 6.0345 percent to P218. Philippine National Bank dipped P2.50 or 3.7037 percent to P65. Philippine Long Distance Telephone Co., the country's most profitable listed company, rose P12 or 0.5133 percent to P2,350. Holding firm Alliance Global Group Inc. gained P0,10 or 0.9141 percent at P11.04. Geothermal power producer Energy Development Corp. slid P0.15 or 2.2355 percent to P6.56. -- CMA/OMG, GMA News