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MANILA MANILA (AFP) - Philippine share prices closed flat Monday due to the absence of strong leads, dealers said.

They said the market was consolidating after its recent record-breaking run, and taking a breather before the next major rally as the long-term outlook for the domestic economy remains bullish.

The composite index gave up 1.80 points at 3,443.56 after moving between 3,439.93 and 3,464.40.

The broader all-share index fell 3.22 points to 2,209.10.

Losers outnumbered gainers 62 to 58, while 55 stocks were unchanged.

A total of 5.1 billion shares worth 3.6 billion pesos were traded.
The peso traded at 45.90 to the dollar.

"There are no new major leads out there," said Ron Rodrigo, research head at Unicapital Securities.

"The market may continue to consolidate with an upward bias while waiting for new leads, including GDP data on Thursday."

Philippine Long Distance Telephone advanced 50 pesos to 2,555.00, tracking gains in its American Depositary Receipts on Friday.

Property developer Megaworld Corp, the most actively traded stock, fell 15 centavos to 3.70 pesos.

Conglomerate Ayala Corp rose five pesos to 510 but SM Investments Corp was down 12.50 pesos at 430 pesos.

Food and beverage group San Miguel Corp's A-shares retreated one peso to 66.50, but its B-shares rose 50 centavos to 77.50.  - Philippine share prices closed flat Monday due to the absence of strong leads, dealers said.

They said the market was consolidating after its recent record-breaking run, and taking a breather before the next major rally as the long-term outlook for the domestic economy remains bullish.

The composite index gave up 1.80 points at 3,443.56 after moving between 3,439.93 and 3,464.40.

The broader all-share index fell 3.22 points to 2,209.10.

Losers outnumbered gainers 62 to 58, while 55 stocks were unchanged.

A total of 5.1 billion shares worth 3.6 billion pesos were traded.
The peso traded at 45.90 to the dollar.

"There are no new major leads out there," said Ron Rodrigo, research head at Unicapital Securities.

"The market may continue to consolidate with an upward bias while waiting for new leads, including GDP data on Thursday."

Philippine Long Distance Telephone advanced 50 pesos to 2,555.00, tracking gains in its American Depositary Receipts on Friday.

Property developer Megaworld Corp, the most actively traded stock, fell 15 centavos to 3.70 pesos.

Conglomerate Ayala Corp rose five pesos to 510 but SM Investments Corp was down 12.50 pesos at 430 pesos.

Food and beverage group San Miguel Corp's A-shares retreated one peso to 66.50, but its B-shares rose 50 centavos to 77.50.