Strong growth outlook boosts share prices

ocal share prices recovered from a selloff driven a strong domestic growth outlook and modest gain in all treet following the nomination of Janet Yellen as new head of the Federal eserve

he hilippine tock change inde re ounded percent or points to while the roader all shares inde picked up percent or points to

he market was mostl higher due to the modest gain in the his is acked up the official nomination of Fed vice-chair Janet Yellen to e the ne t head of the central ank said ga le strella e uities anal st at apital ecurities nc

strella said the market also awaits the dialogue of resident arack ama with the ouse epu lican leaders which might avert a de t default

idden from view as focus trains on the udget impasse and the orrowing limit gridlock are the continuing flow of optimistic outlook for the domestic econom said Justino ala ca Jr an anal st at ccord apital uities orp

oldman achs upgraded its hilippine growth forecast to percent this ear up from the percent it announced in Fe ruar

he local market tracked all treet which posted gains on hopes that the ongress impasse will end soon he ow Jones industrial average added percent or points to while the roader tandard oor s inde rose percent or points to