PHL share prices post marginal gains

Philippine share prices posted marginal gains on Monday, boosted by early earnings reports in the session. The bellwether 30-company Philippine Stock Exchange index rose 7.25 points or 0.168 percent to 4,326.76 while the all shares climbed 18.51 points or 0.61 percent to 3,076.15. Market breadth was positive with 90 gainers dominating 42 losers and 45 issues that closed flat. Four of the six sectoral indices ended in the green, with Mining & Oil posting the biggest gains with a 2.17-percent climb. Volume traded reached 3.76 billion stocks worth P3.53 billion. Stock markets in Australia and New Zealand were trading lower. However, a number of regional bourses were posting gains, including those in Tokyo’s, Seoul’s and Jakarta’s. The market outlook of AB Capital said earnings reports will be among the major influence of the local bourse's movement. "The sustainability of the winning streak will depend on results of the major drivers we have mentioned for next week. If we don't get any major surprises or other market moving catalyst, we should see the market go into a consolidation mode," AB Capital said. In the local bourse, telecommunications giant Philippine Long Distance Telephone Co., the day's most active issue, declined P40 or 1.61 percent to P2,446. First Gen Corp. jumped P0.40 or 2.74 percent to P15. Philex Mining Corp., the country's largest miner, climbed P0.62 or 3.48 percent to P18.42. Lepanto Consolidated Mining Co. added P0.04 or 6.15 percent at P0.69. Alternative power producer Energy Development Corp. gained P0.13 or 1.93 percent at P6.88. -- CMA/OMG, GMA News