PSEi soars 1.67% at noon break


SHARE prices on the Philippine Stock Exchange soared during the morning session Friday, backed by a benign inflation rate of 3.4 percent in April and a steady outlook on the US economy.

The benchmark PSEi gained 129.35 points, or 1.67 percent, to cross the 7800 line at 7,885.10, a seven-month high.

“Relatively benign inflation number for April, steadiness in the outlook for the US economy, and a modest domestic earnings season provided optimists firmer ground to rest on ahead of the weekend,” Philstocks Financial Inc. Senior Research Analyst Justino Calaycay Jr. said.

Nearly all indices were in the green, except for the Mining and Oil index which dipped by 0.48 percent.



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