Local stocks jump 1%, led by PLDT, Globe Telecom

MANILA, Philippines- Local stocks jumped more than 1 percent on Monday, as strong performances from Wall Street last week spurred players into buying blue chips. The Philippine Stock Exchange composite index rose 29.98 points or 1.1 percent to 2,752.93 while the broader all shares gained 20.41 points or 1.20 percent at 1,723.94. Philippine Long Distance Telephone Co., the country’s biggest phone firm, paced trading. It gained P60 or 2.35 percent at P2,610. Rival Globe Telecom added P10 or 0.76 percent at P1,325. Gainers outnumbered losers 58 to 30 while 58 stocks were steady. Volume traded reached 1.09 billion valued at P2.09 billion. - GMANews.TV