Xinhua Financial News Service
Last updated 12:31pm (Mla time) 01/30/2007
MANILA, Philippines -- Share prices closed higher Tuesday after Congress ended weeks of debates and finally ratified the 2007 national budget of P1.126 trillion which is expected to spur economic growth as it would allow the government to spend more for infrastructure, education and health this year, dealers said.
The 30-company composite index finished up 19.30 points or 0.6 percent at 3,196.66.
The broader all-share index rose 12.00 points to 1,988.46.
Gainers narrowly led losers 57 to 56, while 47 stocks were unchanged.
Turnover was 1.5 billion shares worth P3.2 billion.
($1 = P49.10)
http://business.inquirer.net/money/breakingnews/view_article.php?article_id=46453
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