Philippine Stocks: GMA, International Container, Jollibee Foods

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 decreased 0.9 percent to 4,261.60.

GMA Network Inc. (GMA7) (GMA7 PM), the nation’s second-largest broadcaster, fell 1.2 percent to 6.72 pesos, the biggest decline this month. First-quarter net income fell 38 percent to 534 million pesos ($12.3 million) from a year earlier, the company said.

International Container Terminal Services Inc. (ICT) , the Philippines’ biggest port operator, surged 13 percent to 56.40 pesos, the highest close based on prices going back to March 1992. MSCI Inc. said the stock will be added to the MSCI Philippines Index.

Jollibee Foods Corp. (JFC) , the nation’s biggest fast- food company, decreased 4.3 percent to 86.10 pesos, the lowest since March 25. Jollibee said first-quarter net income fell 9.9 percent to 622 million pesos from a year earlier, snapping two quarters of growth, as higher costs squeezed margins. Net income growth in the first half “will likely not be strong,” Chief Financial Officer Ysmael Baysa said in a statement.

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

To contact the editor responsible for this story: Darren Boey at dboey@bloomberg.net

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