Shares Are Mixed Ahead of Data
May 12, 2011
The Philippines Stock Exchange Index of 41 selected issues gained 4.92 to 3220.71. Losers outran gainers 65 to 45 while 62 issues were unchanged. Total volume of stocks traded reached 15.09 billion shares valued at 2.04 billion pesos from Thursday's 10.73 billion shares valued at 2.19 billion pesos. The commercial-industrial subindex gained 12.73 to 4348.96, while the oil sector rose 0.24 point to 6.53. The property sector shed 0.45 point to 169.20 while the mining sector was the biggest loser, giving up 40.95 to 3061.73. Topping the list of widely traded stocks were shares of gaming and real-estate concern Belle Corp., which rose 20 centavos to 7 pesos with about 140 million pesos worth of shares traded. Analysts fear U.S. gross domestic product data, which showed a sudden resurgence in the U.S. economy, could raise the possibility of an increase in U.S. short-term interest rates next month.
