Philippine Stocks: Digital Telecom, JG Summit, PAL, San Miguel
Shares of the following companies had unusual moves in Philippine trading. Stock symbols are in parentheses and prices are as of the noon close in Manila.
The Philippine Stock Exchange Index rose less than 0.1 percent to 3,855.52.
Digital Telecommunications Philippines Inc. (DGTL PM) advanced 5.7 percent to 1.66 pesos, the highest close since Sept. 27. JG Summit Holdings Inc. (JGS) , owner of Digital Telecom, climbed 2.1 percent to 22.45 pesos, the highest since Dec. 10.
San Miguel Corp. (SMC) , the nation’s largest food and drinks company, is “interested” in Digital Telecom if JG Summit wants to sell the venture, San Miguel President Ramon Ang said in a mobile-phone text message in a reply to Bloomberg’s questions. Digital Telecom’s parent has “always been open to explore offers,” JG Summit Senior Vice-President Bach Johann Sebastian said in a mobile-phone text message. There are no offers for the company now, he said. San Miguel fell 0.9 percent to 156.20 pesos, the lowest since Jan. 24.
PAL Holdings Inc. (PAL) , owner of the nation’s biggest carrier Philippine Airlines Inc., sank 3.9 percent to 4.71 pesos, the lowest since Jan. 12. The ground crew of Philippine Airlines will start voting today on whether to go on strike to protest management’s refusal to “bargain” with the group, Philippine Airlines Employees Association President Gerry Rivera said.
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