PH stocks rise above 7,200 after robust US growth

LOCAL stocks finished the week higher above the 7,200-point mark as investors cheered better-than-expected economic data from the United States and positive earnings results from local firms.

The Philippine Stock Exchange index (PSEi) gained 44.74 points or 0.62 percent to 7,215.73 while the All Shares index added 25.05 points or 0.59 percent to 4,250.51. Analysts said that together with the global market trend, upbeat third-quarter earnings will be a main catalyst for the PSEi heading toward the year-end.