Shares climb 0.3 percent, led by mining stocks

MANILA (AP) - Shares climbed today after two days of losses, propelled by gains in mining stocks although worries remained over record high oil prices.

The 30-company Philippine Stock Exchange Index rose 11.08 points, or 0.3 percent, to 3,771.12, snapping a two-day, 2.6-percent fall.

"Investors are cautious and the market is unsure where to go," said Westlink Global Equities chairman Rommel Macapagal, referring to worries over the impact of rising oil prices on economic growth.

"There was selective buying that pushed the main index slightly higher, but that is part of the market's sideways movement," he said.