Philippine stocks ended the week on a positive note as investors weighed efforts by US monetary authorities and private lenders to contain a looming banking crisis. | miguelrcamusINQ /PDI
MANILA – Philippine stocks ended the week on a positive note as investors weighed efforts by US monetary authorities and private lenders to contain a looming banking crisis.
By the closing bell, the benchmark Philippine Stock Exchange index rose 1.01 percent, or 64.81 points, to 6,469.72 while the broader All Shares index rose 0.59 percent, or 20.45 points, to 3,464.27.
“The major indices were also buoyed by an announcement from Credit Suisse that it will borrow up to 50 billion francs from the Swiss National Bank,” he added.
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Wall Street down as Credit Suisse sparks fresh bank selloffU.S. stocks pared losses late on Wednesday but the Dow and S&P 500 still closed lower, as problems at Credit Suisse revived fears of a banking crisis, eclipsing bets on a smaller U.S. rate hike this month. | Reuters
Read more »
PSEi slumps as Credit Suisse woes bring markets back to familiar groundThe benchmark Philippine Stock Exchange index struggled anew on Thursday as large banks were sold down while United States and Swiss monetary authorities moved to stabilize their private financial institutions. | miguelrcamusINQ /PDI
Read more »
BMW Teases All-New 5 Series | CarGuide.PH | Philippine Car News, Car Reviews, Car Prices
Read more »
Philippine banking system ‘sound’ amid US bank failures, recession fears – DOF'There is no reported exposure of Philippine banks to Silicon Valley Bank,' says Finance Secretary Benjamin Diokno following the biggest bank failure since the 2008 financial crisis.
Read more »
Fishy ideas: three aquaculture systems to help develop the Philippine aquaculture industry
Read more »
How the Philippine most common orchids differ from each other
Read more »