Wednesday, 4 July 2007

Stocks close at new record high

By Zinnia B. dela Peña
Original article at the Philippine Star

The local stock market extended its gains for a fourth straight day as share prices rose 1.63 percent to another record finish yesterday, inspired by Wall Street’s rally overnight and expectations of strong second-quarter corporate earnings, dealers said.

The Philippine Stock Exchange composite index, the PSEi, gained 60.31 points to finish at a record 3,751.99, coming off an all-time intra-day high of 3,760.49. The previous record was set on June 20 when the index settled at 3,718.88. The PSEi is now up 769.45 points or 25.8 percent since the start of the year.

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