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Stocks bounce on easing jobless rate

The local stock market eased from its downward trend after the announcement of a lower jobless rate in the country.

The main index gained 34.47 points or 0.60 percent to close at 5,772.86 with only the Property counter continuing to decline.

Volume was lower though at 961 million shares worth P5.27 billion as gainers beat losers 105 to 77 with 48 unchanged.

“Local shares closed higher as the unemployment situation in the country improved to 10 percent in July, from 17.7 percent in April. Sentiment was also boosted from overseas as US Stocks rose sharply,” said Regina Capital Development Corporation Managing Director Luis Limlingan.

Source: Manila Bulletin (

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