Business
PHL Stocks Rally To 6,900 Level
Local share prices rallied near 6,900-level on Wednesday to track the gains of other Asian bourses, driven by positive sentiment over corporate earnings and overseas developments.
The local stock barometer surged 152.92 points or 2.27 percent to 6,882.45 from previous day’s 6,729.53 finish.
“Boosted by positive corporate earnings and upbeat international markets, the bellwether index closed at its peak for the year,” said RCBC Securities analyst Ralph Christian Bodollo.
Online brokerage 2TradeAsia.com said Wall Street’s overnight rally also provided an additional boost to the local bourse.
All domestic sub-indices rose significantly, led by services that gained 3.01 percent.
About 2.99 billion shares valued at PhP9.42 billion changed hands.
Advancers swamped decliners, 117 to 71, while 29 issues unchanged.
The day’s most active stocks were led by SM Investments Corp., Philippine Long Distance Telephone Company, Jollibee Foods Corp., Ayala Land Inc. and Metro Pacific Investments Corp. (PNA) LGI/LDV
