PHILIPPINE shares rebounded on Wednesday driven by market-moving news, particularly President Rodrigo Duterte’s declaration that the clashes in Marawi City would likely end in two weeks. The benchmark PSEi gained 80.23 points or 1.02 percent to close at 7,983.37. During Phoenix Petroleum’s 10th listing anniversary on Tuesday, Duterte was upbeat, saying he sees the crisis in Marawi ending in 10 to 15 days. Among the most actively traded issues, Megaworld Corp. was the biggest gainer at 5.30 percent, while BDO Unibank lost 0.16 percent. Over 1.5 billion issues, valued at P9.35 billion, were traded.

Source: Manila Times July 12, 2017 18:00 UTC