The local stock barometer surged to a new record finish past 8,500 on Monday as investors took their cue from upbeat sentiment in Wall Street while a corporate restructuring deal at conglomerate San Miguel Corp. excited the market.
The main-share Philippine Stock Exchange index racked up 146.94 points or 1.75 percent to close at its best-ever finish of 8,523.07.
All counters traded higher, led by the holding firms which rose by 2.45 percent. On the other hand, the industrial and services counters both gained over 1 percent.
The financial and mining/oil counters also firmed up.
Value turnover for the day amounted to P7.287 billion.
Philippine stocks bounced back from the slump after U.S. stocks closed at record…
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