THE local stock barometer broke into the 6,900-point territory as a confluence of positive factors — strong corporate earnings, monetary policy easing by the Bangko Sentral ng Pilipinas , and upbeat cues from Wall Street — combined to lift investor sentiment, while the Philippine peso also extended its gains against the greenback for the second day in a row.The benchmark Philippine Stock Exchange index rose 0.80 percent, or 54.89 points, to close at 6,944.76, just 35.
'Philippine shares broke into the 6,900 level and now are just a stone's throw away from the 7,000 level, with investors continuing to buy into the strong earnings, the recent 25 bps cut, and upgrade... investment grade for the country,' Regina Capital Development Corp. Managing Director Luis Limlingan added.Last week, the BSP said Japan's Rating and Investment Information, Inc.