PH stocks bounce back on Duterte economic agenda

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LOCAL share prices bounced back Friday, gaining 2.3 percent by the noon break, after JP Morgan said presumptive President Rodrigo Duterte’s economic agenda is an encouraging sign for financial markets.

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The benchmark Philippine Stock Exchange Index (PSEi) rose by 168.11 points to finish the morning session at 7,493.15, while the broader All Shares gained 1.83 percent or 79.77 points to 4,434.72.

Among the most active stocks in Friday’s early session were Ayala Corp., which rallied 5.47 percent or P43 to P829.50. Double Dragon Properties Corp. surged 11 percent or P4.75 to P47.95 while Security Bank Corp. jumped 6.17 percent or P11.10 to P191.10. Metrobank and Trust Co. added P3 or 3.63 percent to stand at P85.70 at market recess. KATRINA MENNEN A. VALDEZ

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