Stock Market

Philippines share prices closed 1.2 percent lower on Friday as foreign funds sold local issues, dealers said. The composite index lost 23.57 points to 1,856.10. In the broader market, the all shares index shed 0.1 percent or 1.63 points even though advancers edged decliners, 55-21 with 42 other shares unchanged. Turnover reached 1.3 billion shares worth 2.2 billion pesos (46.6 million dollars).