Philippine shares slide by 2.12 per cent

Business Materials 24 October 2008 10:48 (UTC +04:00)

Philippine shares slipped by 2.12 per cent on Friday as investors remained jittery over the continued volatility in the stock markets around the world, reproted dpa.

The Philippine Stock Exchange's 30-share composite index shed 42.43 points to close at 1,953.49, from Thursday's finish of 1,995.92.

A total of 847.39 million shares valued at 1.95 billion pesos (39.95 million dollars) were traded.

Losers outpaced gainers, 92 to 23, with 24 issues unchanged.

Analysts said the volatility in the local market will continue amid fears of a recession in the United States.