Alcorn Gold, Ayala, San Miguel: Philippine Stocks Preview

Shares of the following companies may have unusual price changes in Philippine trading. Stock symbols are in parentheses, and share prices are as of 12 p.m. in Manila yesterday, unless otherwise stated.

The Philippine Stock Exchange Index rose 1.6 percent to 3,891.07.

Alcorn Gold Resources Corp. (APM PM): The Philippine minerals explorer signed separate agreements with Bentley Fairview Resources Corp. and Pembleton Minerals Corp. to explore properties in the provinces of Albay and Benguet, a stock exchange filing showed. The stock was unchanged at 1.7 centavos.

Ayala Corp. (AC PM): The owner of the largest Philippine property developer by market value said it bought back 13,000 shares, a stock exchange filing showed. The stock advanced 5.3 percent to 359 pesos.

First Philippine Holdings Corp. (FPH PM): The company acquired 700,000 shares in the open market at about 60.98 pesos each, a stock exchange filing showed. The stock fell 0.2 percent to 60.90 pesos.

San Miguel Corp. (SMC PM): The largest Philippine food and drinks manufacturer may bid for coal exploration contracts to be auctioned by the government, President Ramon Ang said. The stock gained 3.4 percent to 168.50 pesos.

To contact the reporter on this story: Ian C. Sayson in Manila at isayson@bloomberg.net

To contact the editor responsible for this story: Reinie Booysen at rbooysen@bloomberg.net

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