NEWSFLASH

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STOCKS RISE 3%

Manila, Dec. 10, 1997 - Speculations on a possible take-over for San Miguel Corporation pushed stock prices up, with the Philippine Stock Exchange index gaining 57.15 points to close at 1957.15, a seven-week high.

Trading was P1.9 billion, the heaviest turnover since November 20. Gainers outnumbered losers 103 to 26.

SMC Class A shares rose P1.50 to P42.50 while the Class B shares climbed P3.50 to P53. Shares in Piltel, the country's second-largest mobile phone operator, gained P0.70, or 13%, to close at P6.10.

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