Philippines Stocks: Ayala, Lepanto, MacroAsia, NiHAO, Oriental
Shares of the following companies had unusual moves in Philippine trading. Stock symbols are in parentheses and prices are as of 10:17 a.m. in Manila.
The Philippine Stock Exchange Index jumped 54.78, or 1.3 percent, to 4,345.89, snapping two days of losses.
Builders: Ayala Land Inc. (ALI) , the nation’s biggest builder of homes by market value, climbed 3.2 percent to 16 pesos, heading for the sharpest gain since Aug. 10 on speculation borrowing costs may decline after the yield on government securities decreased. Filinvest Land Inc. (FLI) rose 1.7 percent to 1.18 pesos, the first gain in three days.
The 91-day treasury bill’s yield fell to 0.979 percent in yesterday’s auction of the securities, the lowest since May 2.
MacroAsia Corp. (MAC) , a Philippine provider of in- flight catering services, jumped 5.7 percent to 3.33 pesos, bound for the sharpest gain since July 7. The company bought back 100,000 shares, a stock exchange filing showed.
Oriental Peninsula Resources Group Inc. (ORE) , an owner of nickel assets, advanced 6.1 percent to 5.42 pesos, set for the highest close since the stock began trading in December 2007. NiHAO Mineral Resources International Inc. (NI) said it boosted its stake in Oriental to at least 10 percent with the purchase of 5 million shares. NiHAO gained 2.8 percent to 3.70 pesos, bound for the highest close since Nov. 3.
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