MANILA – The local bourse posted improvements in the second half of the day and bucked fears on the eurozone economy while the peso moved sideways against the dollar.

The Philippine Stock Exchange index improved by 6.51 points or 0.1261 percent to 5,169.60 points from the previous day's 5,163.09 points.

Also, the broader all shares index, which was on the red at the end of the morning session, ended Tuesday's trading at 3.440.75 points, up by 15.69 points or 0.4581 percent from day-ago's 3,425.06 points.

Most of the sectoral indices registered gains and these are namely the holding firms, property, services and mining and oil.

On the other hand, the financials and industrial indices maintained their performance in the early part of the day and remained on the red.

Losers continue to surpass gainers but the difference became trivial at 84 to 82 from 91 to 57 at the end of the morning session. Meanwhile, 41 shares were unchanged. Value turnover reached P5.69 billion after 2.1 billion shares changed hands.

Decliners continue to reign as latest developments in France and the Netherlands put more pressure on the debt crisis in the euro zone.

France's President Nicolas Sarkozy was beaten by rival Socialist presidential candidate Francois Hollande in the first round of polls while Dutch Prime Minister Mark Rutte tendered his parliament's resignation over disagreements on how to cut 14-16 billion euros from the Netherland's budget to meet EU's 2013 deficit target.

Meanwhile, the local unit moved sideways after ending the day at 42.69 from day ago's 42.68 closing.

It started the day on a weak note at 42.73 from the previous day's 42.55 opening level.

It rose to 42.68 but went down further to 42.76 resulting to an average of 42.71, weaker than Tuesday's 42.61.

Volume of trade reached $893.25, higher than the $786.6 million in the previous trading.*PNA

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