Philippine Stocks: DMCI, International Container, Megaworld
Shares of the following companies had unusual price changes in Philippine trading. Stock symbols are in parentheses, and prices are at the 12 p.m. close in Manila.
The Philippine Stock Exchange Index increased 57.59, or 1.5 percent, to 3,960.30, the sharpest advance since Jan. 14. The measure fell 5.9 percent in the previous five sessions.
Builders: Megaworld Corp. (MEG PM), the second-largest builder, increased 6.4 percent to 2.16 pesos, the steepest advance since Nov. 2, after the government rejected all bids at a debt auction to cap borrowing costs and central bank Governor Amando Tetangco said inflation is within a “manageable” path.
Ayala Land Inc. (ALI PM), the nation’s largest developer, climbed 2.8 percent to 14.60 pesos, the biggest rally since Dec. 1. Filinvest Land Inc. (FLI PM) rose 2.7 percent to 1.14 pesos, ending a seven-day, 15 percent loss.
Alcorn Gold Resources Corp. (APM PM), an explorer of metallic and non-metallic minerals, advanced 6.7 percent to 1.6 centavos, following a two-day, 17 percent slump. The company and its partners signed an agreement for Swan Oil & Gas Ltd. to participate in their oil exploration and development venture.
DMCI Holdings Inc. (DMC PM), the nation’s largest construction company, rose 5.8 percent to 33.80 pesos, the steepest gain since Dec. 3. The company’s partner Metro Pacific Investments Corp. (MPI PM) said the performance of their venture, Maynilad Water Services Inc. had a “positive trend” in 2010. Metro Pacific added 1.1 percent to 3.54 pesos.
International Container Terminal Services Inc. (ICT PM), the largest Philippine port operator, climbed 2 percent to 42.60 pesos, snapping a five-day, 7.4 percent slump. The government said the nation’s imports grew 35 percent in November.
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