Manila - Philippine share prices rose 2.19 per cent on Wednesday as investors snapped up bargain stocks on positive news that crude oil prices were easing.

The 30-share composite index of the Philippine Stock Exchange gained 52.96 points to close at 2,462.94, from Tuesday's finish of 4,209.98.

A total of 1.36 billion shares worth 2.50 billion pesos (56.8 million dollars) were traded.

Advancers led decliners 69 to 29, while 42 issues were unchanged.

Traders said the market was bullish as crude oil traded 20 dollars below a record high of 147.27 dollars in recent weeks. The Dow Jones' 1.18-per cent rise overnight also boosted investor confidence. (dpa)