Index returns to 6,000 level

Investors went on a buying spree yesterday to extend the local stock market's win run and lift it back above the 6,000 level ahead of what could be groundbreaking developments this week.

- By ELIJAH FELICE ROSALES

The bellwether Philippine Stock Exchange index (PSEi) improved by 0.41 percent or 24.46 points to 6,021.59, with investors more confident that another interest rate cut is in line.

The broader All Shares index also rose by 3.41 percent or 116.66 points to close at 3,535.18.

Michael Ricafort, chief economist at Rizal Commercial Banking Corp., said the PSEi finally breached and bounced back to the 6,000 level after more than a month.