Share prices close higher

The local stock index Friday climbed back to the 6,600 level, tracking regional markets which were mostly buoyed by the upbeat growth of China.

Rising for the fourth straight session, the main-share Philippine Stock Exchange index gained 46.95 points, or 0.72 percent, to close at 6,607.83. For the week, the index advanced by 118.03 points, or 1.8 percent.

Across the region, trading was mostly upbeat on news that China’s gross domestic product growth grew at a faster pace of 7.8 percent in the third quarter from 7.5 percent in the second quarter.

At the local market, all counters firmed up except for the property subindex.

Value turnover for the day amounted to P8.044 billion. There were 89 advancers against 63 decliners, while 37 stocks were unchanged.

The day’s biggest advancer was SMC (+6.52 percent).

On the other hand, the day’s laggers were LTG and EDC which both fell by over 3 percent.  Doris C. Dumlao