Manila  - Philippine share prices rose 2.58 per cent Monday as investors snapped up bargain stocks after sharp gains on Wall Street and a decline in world oil prices.

The Philippine Stock Exchange's 30-share composite index gained 66.01 points to close at 2,620.76.

A total of 1.81 billion shares valued at 2.89 billion pesos (69.63 million dollars) were traded.

Gainers swamped losers 58 to 26 with 61 issues unchanged.

Analysts said investors returned to the market after a sell-out last week, encouraged by Wall Street's strong performance Friday and a pullback in world oil prices. (dpa)