Stocks Rally; Ayala Land, BPI up

The stock market rallied Thursday and the dollar suffered further across-the-board losses after the head of the Federal Reserve all but guaranteed an interest rate cut this month.

The Philippine Stock Exchange Index rose 76.28 points, or 0.9 percent, to 8,154.49 on a value turnover of PhP6.1 billion. Gainers overwhelmed losers, 124 to 74, with 49 issues unchanged.

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