The benchmark PSEi closed at 7,496.33, surging 103.74 points or a change of 1.40 percent.
The All Shares index closed at 4,268.78, higher by 41.57 points or 0.98 percent. All other indices closed higher with the mining and oil, property and the holding firms indices recording the biggest gains.
Value turnover amounted to P4.764 billion, down from Friday’s P6.790 billion.
“If all things push through as planned, that could reduce volatility in currencies and might prompt funds to reposition anew in equities,” said Grace Cerdenia, Research head at F. Yap Securities.
European leaders held yesterday a 17 -hour session, which has been described as one of the most contentious diplomatic standoffs in European Union history before finally reaching an agreement in Brussels.
According to reports, the agreement would require approval from European parliaments.
As part of the agreement, Greece must push through parliament a series of cuts and reforms, including divisive overhauls of its pension and tax system.
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source: www.abs-cbnnews.com
