PHL stocks regain 7,600 level

June 18, 2016 2:06 am 

MANILA, June 17 — The local stock barometer regained the 7,600-level on Friday as investors took their cue from Wall Street’s rally after the United States Federal Reserve kept interest rates unchanged.

The Philippine Stock Exchange index (PSEi) advanced 57.60 points or 0.76 percent to 7,622.07 from previous day’s 7,564.47 finish.

“The announcement of a steady US Fed rate was followed up by the lowered chances of Brexit (British exit) and eased investor’s anxiousness for now,” said RCBC Securities Inc. in a market report.

A referendum to decide whether Britain should leave in the European Union is slated on June 23.

At home, all counters finished in the positive territory, except mining and oil that declined slightly.

Volume of transaction reached 2.58 billion shares valued at Php10.78 billion.

Advancers outnumbered decliners, 114 to 68, while 54 issues unchanged. (PNA)



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