NEWSFLASH

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STOCK MARKET STEADY, GAIN MARGINAL

Manila, Oct. 14, 1997 - The stock market continued to hold steady, buoyed by the slow rise in the value of the Philippine currency. The 30-share Philippine Stock Exchange composite index (Phisix) closed 68 points higher at 2,962.09. It reached 2,976.41 at one point but the gains were cut short by profit-taking.

The property sector posted the largest gains at 963.70, up 8.16 points. Issues that contributed to these gains were: Ayala Land B, Metro Pacific Corporation, Empire East Land and Centennial City.

Also on the upswing were mining shares, which closed 9.50 points up at 3,285.74. Banking shares were slightly lower, as were commercial-industrials.

For this week, analysts expect the market to evade roller-coaster behavior and simply move sideways.

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