Stocks breach 6,900 in 2-day rally; peso extends gains

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 (BSP), 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 35.05 points lower than its peak this year of 6,979.81 reached last April 1.