MANILA, Oct. 22 (PNA) — Local share prices zoomed past 7,100 on Wednesday following the United States equities’ rally.
The barometer Philippine stock exchange index (PSEi) increased 86.19 points or 1.22 percent to 7,154.22 from previous day’s 7,068.03 close.
Brokerage firm 2TradeAsia.com said the local bourse tracked Wall Street’s lead based on European Central Bank’s (ECB) asset purchase plan that encouraged buying.
The Dow Jones Industrial Average index (DJIA) added 215 points while the Nasdaq Composite Index jumped 103 points.
”Corporate third-quarter 2014 results due in the coming weeks should stimulate a more positive market as we expect to see continued growth in earnings,” said Gab Aguila, equity analyst at DA Market Securities Inc.
All counters were in the positive territory, led by financials and property sectors that increased 2.17 percent and 2.48 percent.
Volume of transactions reached 3.31 billion shares valued at P6.70 billion.
Advancers dominated decliners, 111 to 67, while 41 issues were unchanged. (PNA)