RP stocks at all-time high in mid-trade, up by 114 points

(Updated 10:57 a.m.) Philippine shares rose to a new record intra-day high as of mid-trade on Monday, as players cheered prospects of strong corporate earnings in the third quarter and went on a buying spree. As of 10:56 a.m., the Philippine Stock Exchange composite index was up 114.04 or 3.02 percent at 3,889.95 points. This is higher than the PSEi's previous intra-day high of 3,820.55 which it reached last July 13. Advancers were clobbering decliners 92 to 20 while 39 stocks were steady. Volume being traded had reached almost 3.50 billion shares valued at P2.60 billion. Leading the charge was market heavyweight Philippine Long Distance Telephone Co., which had risen P185 or 5.97 percent to P3,285. Top retailer SM Prime Holdings had gained P0.50 or 4.26 percent at P12.25 - GMANews.TV