Monday, November 26, 2012

Philippine Stock Market Soars to All-Time High

The Philippine Stock Market today soared to a new all-time high on slew of positive news-- higher corporate earnings, banking merger talks, rosy outlook on the Philippine economy, and stronger peso. The Philippine Stock Exchange index (PSEi) closed to a record high of 5,579.42 and also hit a new record intraday high of 5,585.09. The rally was led by banking stocks that inched up the financial index by 1.62%.

Energy Development Corp. (EDC) also posted its highest closing price at 7.08 and intraday high at 7.12. The stock was up by 2.31% from previous close.

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