Liberty, Metro Pacific, San Miguel: 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 fell 0.9 percent to 4,227.08.
Liberty Telecoms Holdings (LIB) Inc: The phone company, jointly owned by San Miguel Corp. (SMC) and Qatar Telecom QSC, plans to spend about 1.72 billion pesos ($40 million) to increase the number of cellular sites in Manila to 600 from 400, Philippine Star reported, citing Chairman Ramon Ang. Liberty increased 1.5 percent to 3.95 pesos. San Miguel fell 0.6 percent to 108.80 pesos.
MacroAsia Corp. (MAC) : The Philippine provider of in- flight catering services bought back 100,000 shares at 3 pesos each in the open market, a stock-exchange filing showed. The stock was unchanged at 3 pesos.
Metro Pacific Investments Corp. (MPI) : The stock’s 12- month share price estimate was cut 4.3 percent to 4.85 pesos by Philip Albert Felix, an analyst at Philippine Equity Partners Inc., who cited the impact on valuation should Metro Pacific give up its contract to manage the Subic-Clark-Tarlac Expressway. The brokerage has a “buy” rating on the company. The stock decreased 1.8 percent to 3.36 pesos.
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