Aboitiz, DMCI, Universal, Roxas: Philippine Stocks Preview
Shares of the following companies may have unusual moves in Philippine trading. Stock symbols are in parentheses, and prices are as of the previous close, unless stated otherwise.
The Philippine Stock Exchange Index rose 1 percent to 4,303.31.
Sugar-related stocks: Philippine sugar production in the crop year ending August may rise to 2.2 million tons, higher than the 1.96 million ton target, Archimedes Amarra, executive director of the nation’s sugar millers association, said in a phone interview yesterday. Universal Robina Corp. (URC) , which operates four sugar mills and three refineries, decreased 0.8 percent to 41.50 pesos. Filinvest Development Corp. (FDC) , an owner of sugar companies, increased 0.2 percent to 5.09 pesos. Roxas Holdings Inc. (ROX) , the nation’s biggest producer of raw sugar, rose 3.9 percent to 2.70 pesos when it last traded on May 16.
Aboitiz Power Corp. (AP) : The Philippine company may borrow 50 billion pesos ($1.16 billion) through project finance loans for two coal-fired power plants it will build starting this year, President Erramon Aboitiz said. The two plants will have a combined capacity of at least 600 megawatts, he said. The stock rose 1.5 percent to 29.90 pesos.
DMCI Holdings Inc. (DMC) : The nation’s largest construction company posted a 62 percent increase in first- quarter profit to 2.27 billion pesos from a year earlier, a stock exchange filing showed. The stock gained 3 percent to 42.75 pesos.
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