Philippine Stocks: Alcorn Gold Resources, San Miguel Corp.

Shares of the following companies had unusual price changes in Philippine trading. Stock symbols are in parentheses, and share prices are as of 9:53 a.m. in Manila.

The Philippine Stock Exchange Index fell 12.14, or 0.3 percent, to 3,878.93.

Alcorn Gold Resources Corp. (APM PM), a minerals explorer, increased 5.9 percent to 1.8 centavos, set for the highest close in two weeks. The company 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.

San Miguel Corp. (SMC PM), the largest food and drinks manufacturer, advanced 3.6 percent to 174.50 pesos. The company may bid for coal exploration contracts to be auctioned by the government, President Ramon Ang said.

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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