PSEi makes another record close

Posted at | Updated as of 11/22/12 2:04 AM

MANILA, Philippines - The Philippine Stock Exchange made another record close on Wednesday, boosted by a surge in banking stocks amid talks of a possible BPI-PNB merger. 

The PSE index settled at 5,534.18, up  0.61%. This is the 27th time the main index closed at a record high this year.

Advancers beat decliners 92-75, while 41 issues remain unchanged. 

Among today's gainers, Banco de Oro, which climbed 1.3% and Metrobank which surged 2.2%.

Ayala Corp. also rose nearly 5%, while the LT group is up 1.2%.

The rally in the local bourse comes as most Asian stocks fell, over the eurozone's failure to reach a deal on its assistance for Greece. 

Meanwhile, at the foreign exchange market, the peso closed 2 and a half centavos stronger, ending at P41.14 centavos against the US dollar. - ANC