NEWSFLASH

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STOCKS REBOUND, CLOSE 14.87 POINTS HIGHER

Manila, Oct. 25, 1997 - Philippine stocks performed better than expected, with the Phisix index showing a slight gain of 14.87 points or 0.81 percent, to close at 1,847.78 points.

Best performance was by Meralco B shares, which rose almost 6 percent to P107 after its announcement of third quarter results. The power company reported a 15.9 percent rise in the first 9 months of 1997, with a 31.6 percent jump in the third quarter.

Petron went of a roller coaster ride, falling to P2.55, then recovering to close at P4.05. It closed the day before at P4.25.Petron said it was expecting losses as the Supreme Court has ordered oil refiners to stop raising prices for a 30-day period.

PLDT shares also zigzagged, from a Thursday close of P845, it traded yesterday to a low P740 before closing at P805.

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