Shares close higher despite bomb threat


Posted at Oct 21 2010 04:25 PM | Updated as of Oct 22 2010 08:54 AM

Scenes during the evacuation of Philippine Stock Exchange building in Makati City. by Martha Vinzons of ABS-CBN Business

MANILA, Philippines - Share prices closed higher on Thursday despite a halt in trading due to a bomb threat.

The key Philippine Stock Exchange (PSE) index climbed 57.21 points or 1.36% to a new record high of 4,249.17.

The broader all-share index went up 25.58 points or 0.96% to 2,689.99.

All subindices were in green, led by the industrial sector, which rose 1.73%.

Gainers outnumbered losers, 78 to 44, while 39 issues were unchanged.

A total of 1.2 billion shares valued at P3.5 billion were traded.

"We are grateful to our trading participants and employees for taking time off from their lunch breaks to continue trading in the afternoon. Their collective efforts to support the market have been rewarded by this record index performance," PSE President and Chief Executive Officer Val Antonio Suarez said.

At about 10:30 a.m., an employee received an anonymous call that there was bomb within the exchange's premises, prompting officals to order the trading halt.

Trading resumed at 1 p.m. after authorities found no bomb and declared the PSE "safe."

Aboitiz Power Corp., SM Investments Corp., and Philippine Long Distance Telephone Co. were the top 3 traded stocks by value on Thursday. - With a report from Maiki Oreta, ABS-CBN News