Byline: Felicisimo A. Dolor, Jr.
Stock: Ayala Land, Inc.
Recommendation: TRADING BUY
The local bourse was on an extended run last week as the Philippine Stock Exchange composite index (Phisix) rose to its highest level in almost six months. The Phisix scaled almost 80 points to end the week at 1,337.15 points, up 6.4% from the previous week. The index has risen more than 14% since the start of the year.
Recent gains in the market may be traced to the efforts of the Bangko Sentral ng Pilipinas (BSP) to ease up liquidity in the financial system. Two weeks ago, the central monetary authority slashed overnight borrowing and lending rates by 25 …