Manila  - Philippine shares rose 2.07 per cent on Wednesday on optimism that the country's economy is on its way to recovery.

The Philippine Stock Exchange's 30-share composite index gained 57.73 points to close at 2,842.51 from Tuesday's finish of 2,784.74.

A total of 2.25 billion shares valued at 3.34 billion pesos (70.02 million dollars) were traded.

Gainers outpaced losers 60 to 39, with 52 issues unchanged. (dpa)