STOCKS STEADY, PHISIX CLOSES AT 1872.75 POINTS
Manila, Nov. 21, 1997 - San Miguel Corporation class A stocks shed P1 to close at P40 while its class B shares dropped P1.50 to trade at P46 following announcements that beer prices will increase by a peso per bottle next month.
On the other hand, Meralco B shares gained 3.5% , a five week high, indicating foreign investors' confidence. Class B shares are owned by foreigners. Its class A shares, reserved for Filipinos, rose P2.50 to close at P72.50. Class B closed at P119, a gain of P4.
The Philippine Stock Exchange Index rose 0.75 points, or 0.04%, to close at 1872.75, and trading was about P1.91 billion.
Reported by: Sol Jose Vanzi
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