Philippine shares close slightly higher ahead of Fed rate decision |
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Mon, 17 Sep 2007 06:01
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MANILA (Thomson Financial) - Philippine shares closed slightly higher Monday, with the Asian Development Bank's rosy outlook for the domestic economy providing some encouragement, although caution prevailed ahead of the Federal Reserve's decision on interest rates tomorrow.Trading was subdued throughout the session, with a handful of blue chips advancing on light volumes as investors refrained from making aggressive bets while analysts are still divided on how much the Fed will cut its key rate.The composite index ended up 12.88 points or 0.4 percent at 3,307.43, after moving between 3,294.55 and 3,314.57.The broader all-share index was up a marginal 0.83 point at 2,087.57.Gainers beat losers 44 to 36, while 65 stocks were flat.A total of 3.4 billion shares valued at 3.4 billion pesos changed hands.(1 US dollar = 46.18 pesos)enrico.delacruz@thomson.comed/jm/msCOPYRIGHTCopyright Thomson Financial News Limited 2007. All rights reserved.The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News.
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Philippine shares firmer on rosy ADB outlook; caution ahead of FOMC caps gains 