MANILA, Philippines — Local stocks trekked higher on Friday to cap the week above the 7,000-level, as a series of good economic data fuels investors’ recovery optimism. The bellwether Philippine Stock Exchange index gained 0.55% to close at 7,002.26 on Friday, the first time it reached that level since February 16. The broader All Shares index was up 0.46%. According to Limlingan, traders cheered the release of new jobs data showing unemployment rate eased to 7.7% in May from 8.7% in the preceding month as mobility curbs were relaxed. At home, a total of 2.7 billion shares worth P5.8 billion switched hands during the final trading day of the week.

Source: Philippine Star July 02, 2021 10:30 UTC