Stock exchange breaches 8500 level


THE value of the Philippine Stock Exchange Index broke the 8500 barrier at the resumption of trading on Tuesday rising 1.21 percent or 101.88 points from Friday’s close to 8,549.82 as of noon time.

The wider All Shares was up 39.22 points or 0.79 percent at 4,977.33.

The PSEi’s momentum comes as the military declared the death of two leaders of jihadists in Marawi City on Monday and the second day of the nationwide strike by jeepney drivers and operators kept government offices and public schools shut.

Malacanang again suspended work in government offices and public schools on Tuesday to ensure the safety of state workers and students not only from the transport strike but the inclement weather.

The suspension is contained in Memorandum Circular 29 issued Monday night. WJG/CNC