The currency strengthened by 14-and-a-half centavos to P58.58:$1 while the benchmark Philippine Stock Exchange index added 57.46 points, or 0.89 percent, to end the day at 6,507.49.The broader All Shares index also rose by 20.74 points, or 0.59 percent, to 3,515.87.The peso opened at P56.63 to the dollar and ranged from P58.58 to P58.695. Volume rose to P1.014 billion, higher than Wednesday's P779 million.Michael Ricafort, chief economist at Rizal Commercial Banking Corp.
The S&P 500 and Nasdaq again finished at fresh records Wednesday, extending a positive run following mixed economic data in a quiet holiday-shortened session.Regina Capital Development Corp. Managing Director Luis Limlingan said the PSEi rose ahead of today's release of June inflation data 'and despite the US celebrating its July 4 holiday.''The local bourse was driven by bargain hunting and positive cues from Wall Street.
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