THREE factors, two of them external, gave the Philippine stock market new energy and pushed the Philippine Stock Exchange Index (PSEi) up 99.19 points or 1.34 percent to close at 7, 500.79, and lifted the broader All Shares 46.35 points (1.05 percent) to fish at 4, 479.17.

The key factor that boosted trading on the local burse was the country’s two telecom giants—the Philippine Long Distance Telephone Co (PLDT) and Globe Telecom Inc—acquiring for P70B the 700-megahertz frequency spectrum that San Miguel Corp held.

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