News Column

Philippine Stocks Surge More Than 5 Percent

June 26, 2013

Philippine share prices soared more than 5 per cent on Wednesday, tracking Wall Street's overnight gains on strong US economic data.

The 30-share composite index of the Philippine Stock Exchange gained 329.88 points or 5.70 per cent to finish at 6,118.94. The day's gain was the biggest since 2009.

A total of 1.58 billion shares worth 9.63 billion pesos (223.95 million dollars) were traded. Gainers swamped losers 146 to 34, while 30 issues were unchanged.

Traders said better-than-expected US data on house prices, new-home sales and consumer confidence boosted market sentiment and eased concerns about the global economy.

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Source: Copyright 2013 dpa Deutsche Presse-Agentur GmbH

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