PHP 5.3 compile help

Hi guys,
Was trying to test php 5.3 last night and i got the following

....
General settings
checking whether to include gcov symbols... no
checking whether to include debugging symbols... no
checking layout of installed files... PHP
checking path to configuration file... DEFAULT
checking where to scan for configuration files...
checking whether to enable safe mode by default... no
checking for safe mode exec dir... /usr/local/php/bin
checking whether to enable PHP's own SIGCHLD handler... no
checking whether to enable magic quotes by default... no
checking whether to explicitly link against libgcc... no
checking whether to enable short tags by default... yes
checking whether to enable dmalloc... no
checking whether to enable IPv6 support... yes
checking how big to make fd sets... using system default

Configuring extensions
checking which regex library to use... php
checking whether to enable LIBXML support... yes
checking libxml2 install dir... no
checking for xml2-config path... /usr/bin/xml2-config
checking whether libxml build works... no
configure: error: build test failed. Please check the config.log for details.

Attached is the config error log.

Any help would be appreciated