Ramos plan helps drive profit-taking
Share prices closed lower on profit-taking following Tuesday's sharp gains and political worries fuelled by President Fidel Ramos' refusal to rule out a bid for a second term, dealers said.
The Composite Index bounced back from the day's low of 2,189.73 points on gains in selected banks amid waning fears about the peso and interest rates, they said.
The index ended down 16.09 points at 2,212.77. Losers led gainers by 61 to 55, with 51 issues unchanged.
The All Shares Index slipped 1.74 points to 709.65.
The commercial-industrial index dropped 27.07 points to 3,097.67, while financial issues gained 16.4 points to 696.79.
Close: 2,212.77 (- 16.09) Turnover: 2.21 bln pesos Volume: 4.33 bln shares