PHL share prices end the week mixed

Philippine share prices on Friday ended the trading week mixed, moving within the range of the support and resistance level. The bellwether Philippine Stock Exchange index rose 16.68 points or 0.40 percent to 4, 251.64 while the all shares slipped 5.06 points or 0.16 percent to 3,084.74. Except for the property index, which slid 0.12 percent, all other five indices closed in the green, posting gains between 0.15 percent and 2.43 percent. Gainers trumped losers, 77 to 50, while 40 stocks were unmoved. Volume traded reached 2.61 million shares valued at about P4.64 billion. "At this point, there is a dearth of strong catalysts to influence and increase the demand for shares. Uprising concerns in the Middle East which may have a direct impact on oil prices continue to be a nagging concern among investors," said Claire Quiray in a stock market outlook note written for Regina Capital. Quiray said the market's support is at 4,200 and resistance is at 4, 300. Of the five top-traded stocks for the day, four closed higher. Telecommunications giant Philippine Long Distance Telephone Co. climbed P10 or 0.43 percent to P2,350. SM Investments Corp., the holding firm of the SM group, gained P2 or 0.36 percent to P564. The "A" shares of Lepanto Consolidated Mining Co. added P0.06 or 11.32 percent at P0.59. Alternative power producer Energy Development Corp. slid P0.02 or 0.30 percent to P6.59. Consunji-led DMCI Holdings Inc. jumped P0.65 or 1.51 percent to P43.60. -- CMA/OMG, GMA News