PH stocks in quick rebound

Amid overseas developments, Philippine shares pulled off a quick recovery after snapping out of its six-day run during the mid-week.

Abbygayle Estrella, ABCapital Securities Inc. equities analyst, said in a phone interview that the market was mostly higher due to the modest gain in US equities, which was backed up by the official nomination of Federal Reserve vice chair Janet Yellen to be the next head of the US central bank, as well as the anticipated dialogue of US President Barack Obama with the House Republican leaders.