Manila  - Philippine shares slipped 3.07 per cent Monday on worries over unabated oil price hikes and a fall on Wall Street last week, analysts said.

The Philippine Stock Exchange's 30-share composite index lost 79.19 points to finish at 2,499.28.

A total of 794.37 million shares valued at 1.93 billion pesos (43.46 million dollars) were traded.

Losers outpaced gainers 12 to 94 while 32 issues were unchanged.

Analysts said investors opted out of the market because of nagging concerns over oil prices and Friday's declines on the US market, where the Dow Jones Industrial Average fell 1.83 per cent, the Standard and Poor's 500 Index dropped 1.85 per cent and the Nasdaq Composite Index 2.27 per cent. (dpa)