NEWSFLASH

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STOCK MARKET UP 3 PERCENT

Manila, Nov. 5, 1997 - The Philippine Stock Exchange index closed 55.88 points higher at 1,8881, in a sudden upswing described as "technical" in nature.

Traders are waiting for today's release of inflation rate figures, which they say will determine the movement of shares and could dampen the market.

Market movements will also be affected greatly by the third-quarter earnings and future prospects of real estate companies.

Noted gainers are PLDT (up P30 to P910), Meralco B (up P4 to P110), Metrobank (up P11 to P260), Belle (upP0.25 to P3.35) and Ayala Land B (up P0.25 to P14). PNB closed at P88.50, up P3.50 from previous close.

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