MANILA (Thomson Financial) - Philippine shares were slightly higher in
opening deals on Monday, buoyed by Wall Street's rise on
growing optimism the U.S. economy is recovering and may have dodged a dreaded
recession.
At 9:36 a.m. (0136 GMT), Manila's 30-company composite index was up 13.26
points or 0.5 percent at 2,736.21. The index opened with a 0.8 percent gain at
2,725.18.
The broader all-share index rose 7.36 points or 0.4 percent to 1,710.89.
The Dow Industrial average gained 1.29 percent last week on a steady stream
of positive earnings results and mostly benign economic data, raising optimism
the credit crisis that has pummelled stocks since last year is drawing to a
close.
rocel.felix@thomsonreuters.com
.
rf/nt
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