The stock market rose on the back of gains made by telecommunications giant Philippine Long Distance Telephone Company (PLDT) in the MSCI Philippines Index and optimism on international markets, sending the Philippine Stock Exchange index back above the 7,000 mark for the first time this year.

The PSEi closed at 7,061 with an intraday high of 7,093.06. It added 1.07 percent or 74.76 points by the end of the market session, while the broader All Shares index advanced 0.56 percent or 23.25 points to 4,200.80.

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