PHL shares open week on positive note, snap out of 2-day slump

Philippine share prices snapped a two-day losing streak to open the week in the green on Monday. The main Philippine Stock Exchange index rose 34.48 points or 0.83 percent to 4,201.08, while the all shares jumped 13.97 points or 0.47 percent to 2,950.18. Losers, however, edged out gainers, 77 to 75, while 28 stocks closed unchanged. All six sectoral indices advanced, led by Services' 1.57-percent climb. Trading improved with 9.41-billion shares changing hands for P4.51 billion. For the week, Claire Quiray of Regina Capital said the market is expected to "move sideways with leaning on the positive side." "The main index might vacillate between the support of 4,010 and resistance of 4,200. More catalyst to help the index break out from this range will still be the adoption of any sustainable solution to fight the chronic debts in the Euro zone," Quiray addded. - CMA/OMG, GMA News