2 weeks Stock index nears 6,000 mark Inquirer
The local stock barometer advanced closer to the 6,000 level on Friday, driven by selective buying of large-cap stocks. The main-share Philippine Stock Exchange index (PSEi) gained 65.57 points or 1.11 percent to close at 5,967.96, as domestic investors made up for sluggish foreign investor appetite. "Local shares closed higher as investor hopes for a further recovery took precedence over weak [US] labor market data and a lack of progress on another fiscal stimulus bill in Washington," said Luis Gerardo Limlingan, managing director at Regina Capital Development. For the week, the index gained a total of 182.87 points or 3.2 ... more