Business News

Jun 1, 2009, 5:50 GMT

Philippine stocks surge 2.9 per cent on prospects of more rate cuts

Manila - Philippine share prices surged 2.90 per cent on Monday buoyed by prospects of further reductions in the central bank's key interest rate. The Philippine Stock Exchange's 30-share composite index gained 69.34 points to finish at 2,458.65 points from Friday's close of 2,389.31. A total of 3.95 billion shares valued at 3.86 billion pesos (81.69 million dollars) were traded. Gainers outpaced losers 85 to 43, with 42 issues unchanged. Traders said investor sentiment was upbeat amid optimism that the central bank would again cut key interest rates in July to boost economic growth. Last Thursday, the bank cut its prime rate by a quarter of a percentage point to a 17-year-low of 4.25 per cent to boost liquidity and avert recession.

And Also

Look Back at the Worst Celebrity Breakups

Look Back at the Worst Celebrity Breakups - PopEater
Cyber Monday: Avoid the scams and criminals while you shop - The Tech Herald
Combat Arms: Grenade Spam Celebration Trailer - Cinema Blend
Meryl Streep Doesn't Like Having Her Picture Taken - PopEater
A&E series 'Hoarders' and 'Intervention' premiere Monday, Nov. 30th, preview

Your Talkback on this Story

Similar articles

Philippine stocks up nearly 3 per cent
Philippine stocks up nearly 3 per cent
Philippine shares rise more than 2 per cent on US markets gains
Philippine shares rise 2 per cent
Philippine stocks soars 5.11 per cent

Latest Headlines in Business

Older Talkback

Business: Index

: News; Features; Currency Conversion

Latest Pics

From Sites we Like

German tourist tells Disney World security that he had bombs in his backpack. Ha ha, just kidding [Dumbass]
Your mother is in a car accident, so you pull over and C) Kick the reponding State Trooper in the groin [Dumbass]

More Not News from Fark

In Monsters and Critics

: Arts; Books; DVD; Gaming; Lifestyle; Movies; Music; News; People; Science & Nature; Sport; TV; Archives
Other Languages and Sites: Deutschland (Monsters and Critics); The Tech Herald; Free Games

Entertainment: Arts; Books; DVD; Gaming; Movies; Music; People; Soundtracks; TV
Media: Celebrity Photos; Movie Pictures; Movie Trailers; Movie Posters; Theatre Stills; Celebrity Video; Music Video
Released this week: Movies - USA; Movies - UK; DVD - USA
Distractions: Online Games; Daily Crossword; Sudoku Classic; Daily Jigsaw

World News: US; UK; Americas; Europe; Middle East; Asia Pacific; South Asia; Africa; Business; Education; Health
Science and Tech: Science and Nature; Technology
Lifestyle: Autos; Fashion; Life; Travel

Corporate

: About; Advertise; Contact; The Team; Vacancies; Privacy; RSS; Site Map; Terms; Webmasters

The Fine Print

© 2003 - 2009 by Monsters and Critics.com, WotR Ltd. All Rights Reserved. All photos are copyright their respective owners and are used under license or with permission. * Note M&C cannot be held responsible for the content on other Web Sites.

Servers supplied by Servint