THE local stock barometer inched toward the 7,000-point level on Tuesday with an intraday high of 7,008.87 but closed at 6,973.41 as investors cheered for the US Federal Reserve's signal of monetary policy easing soon.The local currency also opened the week stronger against the greenback.The benchmark Philippine Stock Exchange index climbed 0.16 percent, or 11.45 points, to 6,973.41.The broader All Shares index grew 0.31 percent, or 11.55 points, to 3,761.28.
''There are several speaking engagements from Fed officials this week,' he added.'On the local front, investors await the release of the July budget balance on Wednesday and July PPI on Friday,' Limlingan said.Sectors were mixed with the properties taking the lead by gaining 2.72 percent, while services were at the bottom, losing 0.40 percent.Gainers outnumbered decliners, 110 against 94, while 51 names were unchanged.